President Lula criticized the International Monetary Fund (IMF) and the World Bank during the inauguration of the G20 National Commission on Thursday 23, The ceremony took place at the Palácio do Planalto.
“It is not possible for the World Bank, the IMF and so many other financial institutions to contribute by functioning as if nothing were happening in the world. As if everything was solved. “Often, institutions borrow money not with the aim of saving the country that is borrowing money, but to pay off debts and not produce a productive asset evidence of the lack of contribution to saving the lives of countries.”
Lula defended a reassessment of financing “poor countries.” Citing the examples of Argentina and African countries whose economies are in crisis, he said this issue would be addressed during the G20 presidency. Brazil takes command of the bloc on December 1 and will remain until 2024.
“We see what happened in Argentina, on the African continent with R$800 billion in debt, and if there is no renewed discussion on how to finance poor countries, we will not have a solution,” he added .
The event was attended by ministers, the President of the Chamber, Arthur Lira, the Federal Supreme Court (STF), Luís Roberto Barroso, and the President of the Central Bank, Roberto Campos Neto.