The executive secretary of the Brazilian finance ministry, Gabriel Galípolo, confirmed on Monday that President Luiz Inácio da Silva will offer his colleague Alberto Fernández a financing line for Brazilian companies selling in Argentina.
He told Globonews, right fleeting hours of travel that Alberto Fernández will undertake in Brasilia this Tuesday at noon with the Minister of Economy, Agriculture and Production, Sergio Massa, and more than officials, seeking direct help and against time for the serious shortage of currency reserves Argentina has. In this case it would be a question of being able to pay for imports arriving from Brazil, for at least 5,000 million dollars.
From Alberto Fernández’s surprise phone call to Lula last week, Massa’s teams and the president of BrazilThey trade against the clock. This Monday Massa and his colleague Fernando Haddad, with his team and the Brazilians, evaluated the different financing options for Brazil to give quick and concrete support to the tormented Argentine finances, currently subjected to a new spiral of crisis, with a strong high of the blue dollar against the peso which, according to the Brazilian press “it melts”.
Galípolo explained to reporters in his country how it affected the drought suffered by Argentina about 40 percent of the value of exports, about 17,000 million dollars. And he said the Lula government is now studying funding for Brazilian companies that sell to Argentina, which would have a positive impact on companies that import services and goods from Brazil.
estimated at more than two hundred companies that trade and Galípolo, who confirmed this credit line as one of the possible ways to help those who are good partners of his country, especially in industrial products.
“Over the past five years for lack of funding from Brazil to exports to Argentina we lost 6 billion dollars in the trade balance with Argentina for China (i.e. they were redirected towards China),” he said, but he also spoke of an underlying problem when he said the new PT administration was “studying how we can export, given the restrictions on the balance of payments that exist today in Argentina”. After all, the Brazilians thumbs down on Argentina’s proposal to establish a common currency alternative to the dollar in bilateral and regional trade. In fact, it was rejected by all the neighbors.
Last week there was an unexpected telephone conversation between Lula da Silva and Alberto Fernández, whose Argentine presidency He commented the generalities for a duration of 45 minutes.
It was the first communication made public between the two since the Argentine president announced his intention to resign from the candidacy to be re-elected, a move which, given the delicate situation of the economy, and the gestures of Cristina Kirchner, left Massa virtually in charge of the government . .
Meanwhile, Economy recalled on Monday that Massa spoke of this type of financing for exporters which has a positive impact on Argentine coffers with his Brazilian counterpart, Fernando Haddad, in the meeting they held in February. He was in Bengaluru, India, as part of a G20 meeting.
Friday, and as anticipated clarion, after O’Globo reported him in Brazil, it was learned that Alberto F. Massa and Cafiero were traveling to ask Lula for help. By then, that country’s vice president, Geraldo Alckmin, Haddad and Massa and their team were already talking about the credit they seek.
Meanwhile, Ambassador Daniel Scioli, who declared himself a candidate, had to prepare his return to Brasilia from Buenos Aires. It has emerged that at least one, if not all, of the meetings will be in the Palacio de la Alvorada, the presidential residence of the president of Brazil.
More officials were added to the trip than initially counted, Massa and Foreign Minister Santiago Cafiero . The Fernández couple will also be part of the game on the Tango 02 presidential flight, Fabiola Yañez, Massa, the Chief of Staff, Agustín Rossi; the Minister of Social Development, Victoria Tolosa Paz; the spokesperson, Gabriela Cerruti; the secretary of the presidency, Julio Vitobello, who does not remove Fernández.
For his part, Massa takes the trusted team with whom he is currently negotiating what will be asked of Brazil and what the real possibilities are. Traveling with him are his chief adviser, Leonardo Madcur, and Lisandro Cleri, his trusted man, who is now incorporated into the board of directors of the Central Bank and is closely following in the footsteps of the institution’s president.
Source: Clarin
