‘It is a moment of erosion in relations between countries and the G20 meeting is extremely important’, says Belluzzo

[ad_1]

For the economist, one of the main topics to be dealt with at the meeting is the inflationary pressure seen in several countries of the group due to the war in Ukraine. Economic challenges for Brazil and the World: Economist analyzes the country’s prospects Luiz Gonzaga Belluzzo, an economist and professor at the State University of Campinas (Unicamp), declared this Thursday (23rd) that he views the G20 meeting as positive, a group of the world’s largest economies. The event takes place in Bangalore, India, between February 23rd and 25th. “I think meetings like the G20 are extremely important. The countries give their testimony in relation to what is happening. Brazil, for example, returned to the international scene in a very special and favorable way due to the way President Lula treats these issues, in a very business-like way, and of rapprochement with other countries”, said Belluzzo in an interview with GloboNews Em Ponto. Finance Minister Fernando Haddad traveled to India early this Wednesday (22) to meet finance ministers and central bank presidents from G20 countries. “I always joke here that, when listening to certain analyses, I imagine that Brazil is on planet Neptune. Brazil is not on planet Neptune, Brazil is on planet Earth and coexists with other countries, with their peculiar problems. Above all, there is a whole international articulation that promotes relations between countries. And what is happening now is a worsening of the erosion of these relations”, completes Belluzzo, highlighting the “turbulence” caused by the war in Ukraine. For the economist, one of the topics to be dealt with at the meeting will be the high inflation seen in several countries of the group – a consequence of the supply shocks resulting from the conflict in Eastern Europe. “This Russia-Ukraine war caused negative supply shocks, which are producing this inflationary process. And, at the same time, we have a kind of restriction to observe that this inflation is not necessarily of the same nature as demand inflation. In the USA there are demand factors yes. In the case of Brazil, no”, he said. In the evaluation of the expert, who was Secretary of Economic Policy at the Ministry of Finance during the José Sarney government (1985/1990), the current moment is one of wear and tear in economic relations between countries and that this must be overcome in meetings such as those held by the G20.

[ad_2]

Source link