Minister stated that he is still waiting for Argentina’s response; would only be for Brazilian exporters with BB operations
The Minister of Finance, Fernando Haddad, said this Wednesday (23.Aug.2023) that the Brazilian government made a formal proposal to Argentina to guarantee Brazilian exports to the country in Wuhan, Chinese currency. The exchange operation for the real would be carried out by Banco do Brasil and would be at the level of US$ 100 million as it is a 1st test. Brazil, according to the minister, is still awaiting a response from the Argentine government.
“We have already forwarded to the Argentine government a proposal for guaranteeing Brazilian exports in Wuhan. A guarantee with Banco do Brasil to make the exchange for the real. We forward it, for Brazilian exporters it is a good thing. It will be good news if Argentina agrees.”he declared.
According to Haddad, this would give security to Brazilian exporters to do business with Argentina with a 100% payment guarantee. He stated that the National Treasury considered the guarantee “proper” and that Banco do Brasil agreed with the operation.
“Because they can have some flow of sales of their products with 100% guarantee and to Brazil without problems because the exchange will be made from Wuhan to the real and that also reassures the national treasury. It is a guarantee that the Treasury considered adequate and Banco do Brasil agreed in the manner presented. We are now waiting for the return to find out.”
The minister spoke to journalists in Johannesburg, South Africa, where he is participating in the 15th BRICS Summit, group made up of Brazil, Russia, India, China and South Africa.
The president Luiz Inacio Lula da Silva (PT) said on Tuesday (22.Aug), in his live weekly, that Brazil could help Argentina using yuan and not dollars.
When talking about the use of local currencies in Brics commercial transactions, the PT cited as an example the help that Brazil can give to Argentina. According to him, the country can help its neighbor with yuan, the Chinese currency, instead of sending dollars.
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