Presidents Lula and Fernandez Discuss Argentina-Brazil Trade

President Lula da Silva welcomed Argentine President Alberto Fernández, who has arrived in Brazil for the fourth time this year.

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This is a state visit commemorating the bicentennial of the establishment of diplomatic relations between the two countries, which will be celebrated in August. However, it takes place in a context of growing problems for the Argentine government.

Fernandez was received by Lula at the Presidential Palace of Planalto with honors, after which they started a private meeting, to be joined later by ministers from both administrations.

Lula will then host a lunch for the Argentine delegation at the Foreign Ministry headquarters, and Fernandez will subsequently be received by the Senate President Rodrigo Pacheco.

Before returning to Buenos Aires, the Argentine president will meet with Supreme Court President Rosa Weber.

The tweet reads, "President Lula receives the president of Argentina."

Lula and Fernandez will discuss ways to unlock bilateral trade, which has been affected by the lack of dollars in Argentina, as well as other joint projects such as financing from the Brazilian public banking sector for part of the Argentine "Vaca Muerta" gas pipeline.

Fernandez is facing the final stretch of his term with inflation skyrocketing above 100 percent annually, a severe shortage of foreign currency, and difficulties in renegotiating a US$44 billion multilateral loan inherited from his predecessor Mauricio Macri.

Lula has advocated for Argentina in various forums, including the BRICS, where he unsuccessfully tried to convince this economic block to open a credit line in favor of Argentina through their development bank.

Argentina will hold elections in October, and the Peronism has already announced that its presidential candidate will be Sergio Massa, the Economy Minister and the main person responsible for dealing with the country's severe financial crisis.