The News – Capital Media
The News – Capital Media
  • Argentina and Brazil Agree to Mediate in Venezuela Crisis

  • Both countries agreed Monday to search for mechanisms that can help secure trade deals independently

People protest with signs showing Brazil's acting Foreign Minister Jose Serra that read in Spanish "Wanted, Jose Serra, Foreign Minister, impostor of Brazil," and "Brazil isn't a democracy any more" as they wait for Serra outside the Foreign Relations Ministry where he'll meet Argentina's Foreign Minister Susana Malcorra in Buenos Aires, Argentina, Monday, May 23, 2016. Photo: AP/Natacha Pisarenko, photo: AP/Natacha Pisarenko

24 of May 2016 09:46:37

BUENOS AIRES, Argentina — Brazil and Argentina will work together to help find a solution to Venezuela's political crisis, Brazil's acting foreign minister said Monday.Venezuela is facing a severe economic crisis, with the world's highest inflation and shortages. Polls indicate most Venezuelans want President Nicolás Maduro out of office."We're on alert when it comes to Venezuela. Brazil and Argentina have an interest that includes mediation," Brazilian Foreign Minister José Serra said at a news conference after meeting with Argentine President Mauricio Macri.[caption id="attachment_19012" align="alignright" width="300"]Brazil's acting Foreign ministerJ osé Serra arrives for a press conference in Buenos Aires, Argentina, Monday, May 23, 2016. Photo: AP/Natacha Pisarenko Brazil's acting Foreign minister José Serra arrives for a press conference in Buenos Aires, Argentina, Monday, May 23, 2016. Photo: AP/Natacha Pisarenko[/caption]It was Serra's first official trip since being appointed after Brazilian President Dilma Rousseff was suspended pending an impeachment trial."Venezuela is facing a critical situation," Serra said. "We want to find a path toward reconciliation."Brazil also has been facing a political crisis as well as rising inflation and lower prices and waning demand for exports of its commodities.Economic ties between Brazil and Argentina, the continent's two largest economies, have been hit by Brazil's worst recession in decades. The gross domestic product of Argentina's top trading partner shrank 3.8 percent last year and Argentine exports to Brazil plunged.Both countries agreed Monday to search for mechanisms that can help secure trade deals independently rather than through the Mercosur trade bloc as they had been doing."This doesn't mean that other countries can't do the same," Serra said. "Sometimes you can begin something, open the possibility so others can soon follow."Mercosur's members include Argentina, Brazil, Paraguay, Uruguay and Venezuela. The latter became a full member of the South American bloc in 2012 in an effort to link the region's most powerful agricultural and energy markets.

DEBORA REY



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