BRAZIL: Finance Minister Sees No Risk Of Impact From Crisis In Argentina

(RTTNews) - The current crisis in Argentina lacks a contagion channel to Brazil, said the Brazilian Finance Minister, Eduardo Guardia.

"We have a comfortable external situation, with a small current account deficit financed by external direct investments. Besides that, we have US$ 383 billion in reserves. So I do not see any impact," he said.

He also said that the balance of risks in Brazil would remain unchanged by the United States' decision to withdraw from the agreement that limits the Iranian nuclear production.

According to Guardia, Brazil must "persist in the path of fiscal consolidation," because that would "give security for Brazil to continue growing. The international situation may change. We must remain firm in the direction of reforms."