Brazil Proposes a G11. And Wants to Be Part of It

Talking to journalists in London just before meeting the members of the G7, the world’s seven richest countries, Brazil’s Finance Minister, Antônio Palocci expressed the desire that the G7 group become a G10 or G11 in a way that Brazil be part of it as a right and not by invitation.

“One of the messages we want to give in this meeting is that we greatly appreciate the invitation from rich countries, but our expectation for the years ahead is that we will have a G10 or G11 no longer by invitation, but by right,” Palocci told reporters. “This is what we’re trying to achieve with changes in the Brazilian economy.”


Thanks to a considerable growth of its industry and agriculture in recent years, Brazil gained some respectability and is considered today part of the emerging block known as BRIC, which includes Brazil, Russia, China and India.


Brazil was also helped by a sharp decline in debt load to reach in 2004 a decade-high economic growth. Brazilian President Luiz Inácio Lula da Silva has recently said that he expects his country to soon have the world’s sixth-largest economy.


Palocci also asked the rich nations to continue growing for the benefit of the whole world. The London G7 meeting reunited the economy ministers of the United States, Japan, Germany, France, Italy, United Kingdom and Canada. Brazil was invited together with China, India and South Africa, all considered important emerging nations.


“Last year, Brazil benefited a lot from the positive growth in all the continents,” said the Minister. “2005 has already started with positive indicators and a trend for strong growth. For Brazil it is important to grow with similar rates we had last year.”


The Brazilian Minister stressed that the rich nations should make an extra effort to guarantee that the world economy is balanced and to stimulate a growth that may bring “big social repercussions” to the poorest people.


Palocci had a busy time in London meeting, for bilateral talks, among other officials, Zhou Xiaochuan, governor of the People’s Bank of China and Gordon Brown, British Finance Minister, who this year chaired the Group of Seven.


BrM

Tags:

You May Also Like

122 Million Brazilians to Vote in Mandatory Referendum on Guns

Everything is set in Brazil for Sunday’s (October 23) referendum on sales of firearms ...

Businessman Sylas Souza Silveira in Pakistan in 2005.

For 20 Years This Brazilian Has Been Rushing to World’s Worst Natural Disasters

Businessman Sylas Souza Silveira is going to be awarded the Order of Rio Branco, ...

Largest Outlay Ever: Ford Invests Over US$ 2 Billion in Brazil

US's Ford Motor Co. has just announced that it will spend 4 billion reais ...

Up and Coming

Yes, there are prosperous and even rich Brazilian blacks. And they are not just ...

Favela Residents in Brazil Get Deed to Their Shacks

Brazilian officials said yesterday, September 25, they will begin mapping two labyrinthine Rio shantytowns, ...

US$ 37 Billion: World Never Invested So Much in Brazil

Brazil received US$ 37.4 billion in foreign direct investment (FDI), last year, double the ...

There Won’t Be Hunger in Brazil in One Year, Says Lula’s Aide

By the end of Brazilian President Luiz Inácio Lula da Silva’s mandate, no family ...

Foot and Mouth Disease Scare Back in Brazil

Brazil has isolated several counties in the south of the country where last year ...

Brazilian Conservationist Kills Self to Protest Alcohol Plants

Francisco Anselmo de Barros, 65, wrapped himself in an alcohol-soaked blanket and set it ...

Multinationals Helped Brazil’s Dictatorship Intimidate and Kill Workers

Major US and European corporations collaborated intimately with Latin American military dictatorships in the ...