Brazilian President Lula again defends a common currency with China and the rest of the BRICS
President Lula again defended a common currency among the BRICS countries, a bloc formed by Brazil, Russia, India, China, and South Africa.
The speech occurred during the G7 meeting in Japan.
The model suggested by the PT is the same one in force with the euro in the European Union.
“I dream of building several currencies among other countries that do trade, that the BRICS have a currency,” said the politician. “Like the euro.”
Despite his speech, Fernando Haddad, Minister of Finance, usually defends a model different from the European one.
The euro circulates between individuals and legal entities in the European Union.
According to the newspaper O Estado de S. Paulo, Haddad proposes an exclusive currency for commercial transactions to replace the dollar.
“It is not possible to depend on the dollar to do foreign trade,” declared the Brazilian president at the end of his visit to participate in the G7.
Lula stated that the “currency of the Brics” will be discussed “at some point.”
ARGENTINA ON THE AGENDA
During the trip, Lula met with Kristalina Georgieva, Managing Director of the International Monetary Fund.
During the meeting, he asked her to ease the pressures on Argentina’s debt.
Lula’s administration also defends the creation of a common currency between the Brazilian and Argentine markets.
“I talked to the IMF director about Argentina’s situation and asked her to understand that, after the pandemic, Argentina faced a drought,” Lula reported.
“Let’s give Argentina some time to recover. Our companies need to continue selling to Argentina.”
With information from Revista Oeste
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