Good morning! Today, we talk about the Brazil-Argentina rapprochement. New IPO rules try to push companies into going public. And the government calls Yanomami crisis a “genocide.”
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Brazil commits to financing regional projects
In Argentina on the first international trip of his term, President Luiz Inácio Lula da Silva said that Brazil’s National Development Bank (BNDES) will once again finance development projects abroad in an effort to “help neighboring countries grow and even sell the results of this enrichment to countries such as Brazil.”
Trade. The Brazilian government also wants to create mechanisms to finance Argentinian importers — which have limited access to international tenders — to boost trade between the two countries.
- Brazil has been overtaken by China as Argentina’s top trading partner. The Chinese are using such mechanisms to facilitate trade with Argentina.
Why it matters. Lula has pledged to rekindle Brazil’s relationship with Latin America. But while moves to increase exports to its southern neighbor are well received, many in Brazil frown on the push to finance projects...