BRLula defends Pix and re-election to "guarantee" democracy at the Mercosur summit
President Luiz Inácio Lula da Silva, during the 68th Meeting of Presidents of Mercosur in Luque, Paraguay, defended his re-election campaign, stating it would 'guarantee' Brazil remains democratic. He emphasized the importance of maintaining democracy within the bloc, which includes Argentina, Brazil, Paraguay, Uruguay, and Venezuela. Lula also supported the Brazilian payment system Pix, criticizing U.S. investigations into it and highlighting its role in financial inclusion. He criticized U.S. policies under Donald Trump, including protectionism and economic instability caused by wars and mineral extraction. Lula argued that regional mineral exploration is crucial for regional security and sovereignty. He announced Brazil's commitment to contribute $100 million annually to the Mercosur Structural Convergence Fund (FOCEM), reversing a previous proposal that had faced resistance from Paraguay and Uruguay.
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