Brazil Sees Argentina in Urgent Need of Another Bailout
- Brazil plans to rally Chile, Colombia to aid troubled neighbor
- Brazil hasn’t figured out a plan yet, unlikely to inject funds
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President Luiz Inacio Lula da Silva’s economic team considers that Argentina, battered by spiraling inflation and a severe drought, will soon need some sort of additional financial support, according to a Brazilian government official familiar with the discussion.
The official, who requested anonymity to reveal internal discussions, described Argentina as a regional partner that’s too big to collapse, but not relevant enough on the global stage to convince the International Monetary Fund or even China to mobilize the additional resources the country urgently needs.