Lula welcomes Argentine president in fourth meeting since 2023

President Luiz Inácio Lula da Silva on Monday (Jun. 26) received Argentine President Alberto Fernandez at the Planalto palace in Brasília. After a private meeting, the two had lunch at the Itamaraty palace, seat of the country’s foreign ministry.

Brazil’s largest trading partners in South America, the Argentines are facing a serious economic crisis, with devaluation of the local currency, loss of purchasing power, and high inflation rates. A severe drought is also assailing Argentina’s grain crops, deepening the crisis and jeopardizing the debt repayment targets agreed upon with the International Monetary Fund.

Lula has spearheaded efforts to help the neighboring country, mainly in a bid to prevent a drop in Brazilian exports. Last month in Japan, the Brazilian leader talked to IMF Director-General Kristalina Georgieva about Argentina’s economic landscape and sought support from the BRICS—the economic bloc made up of Brazil, Russia, India, China, and South Africa.

Diplomacy

Monday’s state visit takes place at Lula’s invitation as part of the celebrations of 200 years of diplomatic relations between the two nations. Argentina was the first country to recognize Brazil’s independence and establish relations with it. The Brazilian government describes its ties with the neighboring country as “strategic and vital,” “a fundamental axis of Mercosur and in South American integration.”