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Lula da Silva asks the IMF to convert debts of African countries into infrastructure works

Brazilian President Luiz Inácio Lula da Silva defended this Tuesday that the International Monetary Fund (IMF) transform the huge debt of African countries into infrastructure projects so that they can grow and pay their obligations later.

: Ricardo Stuckert (Via: Facebook Lula)
Ricardo Stuckert (Via: Facebook Lula)  

"It is true that the African continent is very poor. And the problem is that almost all countries owe a lot to the IMF and the amount of interest they pay prevents them from investing in anything else", said the Brazilian leader, in his weekly broadcast on the social networks.

Lula da Silva took advantage of the program to highlight the results of his visit last week to South Africa, Angola and São Tomé and Príncipe, and his participation in the summits of the BRICS (Brazil, Russia, India, China and South Africa) and of the Community of Portuguese Speaking Countries (CPLP).

The Brazilian head of state said that, despite poverty, African countries have great potential for growth, especially in agriculture, but do not have this opportunity due to the huge debt that burdens them.

Lula da Silva stated that the debt of African countries exceeds 800 billion dollars, so that almost all of their income must be used to pay interest on the debt.

"That's why I proposed the idea that rich countries transform this (African) debt to the IMF into infrastructure works, so that African countries can start growing and then pay off their debt. We have to give them that opportunity", he stated.

The Brazilian President considered that his country could share with Africa the agricultural technologies that allowed him to transform the Cerrado into one of the biggest breadbaskets in the world.

"The African savannah is very similar to the Cerrado [Brazilian biome] and could become a food production pump not only for Africa, but for the entire world," he said.

Lula da Silva guaranteed that it is precisely because of this potential that he defends the need for the whole world to invest in Africa.

"It's a place where everything has to be done and that's why I'm obsessed with working for Africa," he concluded.


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