Brazil Pitches Plan to Guarantee Exports to Argentina in Yuan
- Proposal would ensure payments amid Argentine economic woes
- Brazil awaits response on $100 million-$140 million plan
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Brazil’s government has proposed a plan to Argentina that would use yuan to guarantee export payments in order to bypass its neighboring nation’s serious cash shortages and keep trade flowing, according to Finance Minister Fernando Haddad.
President Luiz Inacio Lula da Silva’s administration has searched for ways to aid Argentina amid its intensifying economic crisis, while also attempting to ensure Brazilian exporters are paid for sales to the country’s third-largest trading partner.