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Brazil's President: Emerging
Nations
In Better Shape In Financial Crisis
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Claims Normal Relations With
Peru Despite Maritime Border Spat
Brazil's President: Emerging
Nations
In Better Shape In Financial Crisis
Buenos Aires - Some
emerging nations are in better shape to
emerge from the global financial crisis than
developed ones, Brazil's President Luiz
Inacio Lula da Silva said in an interview
published on Sunday's edition of the La
Nacion daily.
Lula named China, India, Brazil, South
Africa and Argentina as being in good shape
but he also said emerging nations are not
going to escape the crisis unless developed
countries do the same.
He said Brazil would import and export more
once the crisis comes to an end. "Then we
will be able to establish some balance in
trade flows, which is currently the victim
of credit shortage," Lula said. "Brazil is
implementing anti-cyclical policies which
allow the internal market to adjust to
compensate for the reduction in exports."
Lula also said the Brazilian government will
spend 300 billion U.S. dollars in
investments and will build a million homes
to fight the housing shortage and to create
new jobs.
"Boosting living conditions will also allow
us to cut back violence," he said.
Lula is set to meet President Cristina
Fernandez of Argentina on Thursday in Buenos
Aires, which he said would be an opportunity
to "build consensus with Argentina".
He said Brazil and Argentina must join
forces in this crisis, describing it as "an
exceptional moment to take political
decisions". greements. Peru argues that
those are not border demarcation deals but
fishing agreements.
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