President of Brazil: BRICS countries can help reduce global inequality | BRICS | Brazil
Brasilia, August 2 (Xinhua) - Brazilian President Lula said in the capital city of Brasilia on August 2 that BRICS countries can play a special role in the world, help reduce global inequality, and provide funding to other developing countries "without attaching difficult conditions.".
During breakfast with dozens of foreign journalists in Brasilia, Lula expressed high expectations for the 15th BRICS summit to be held in South Africa at the end of this month. He reiterated his support for trade between partner countries to be settled through local currency. "Why does Brazil trade with China or Argentina through the US dollar? We can use our own currency," he said.
Lula said she expects the New Development Bank of the BRICS countries to be "more efficient" than the International Monetary Fund. He believes that the existence of the New Development Bank is to "help and save some countries".
Lula also urged wealthy countries to adopt differentiated policies to exempt some of the debts of African countries. He said that inequality must be eliminated and efforts must be made to achieve more equitable distribution of wealth globally. "Now is the time to use existing resources to improve the world and help humanity. Money cannot be spent on weapons and bombs that will not produce anything."