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Brazilian President Lula to Act as BRICS Liaison to Help Argentina, Discusses Credit Line in Brazilian Reals

Brazilian President Luiz Inacio Lula da Silva has stated that Brazil will serve as a facilitator to arrange BRICS bloc assistance for Argentina. Lula suggested that the New Development Bank could modify some of its rules to aid Argentina. The two countries are also negotiating the establishment of a credit line to pay for Brazilian exports in reals. Lula criticized the role of the International Monetary Fund (IMF) in Argentina's financial and economic crisis and called on the IMF to "take the knife from Argentina's neck." During the meeting, Lula called Dilma Rouseff, the current President of the New Development Bank, to propose that a rule be modified to allow the institution to offer direct aid to a state outside of the BRICS bloc. (Bitcoin.com)

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