Brazil recommends that Argentina use RMB as payment guarantee in exporting

According to the report of Sputnik News Agency & Radio on August 24, Fernando Ada, Finance Minister of Brazil, stated that Brazil recommended Argentina use RMB as a payment guarantee when exporting. “The Brazilian government proposed to Argentina a plan to use RMB as payment guarantee when exporting, so as to bypass the serious cash shortage risk in neighboring countries and maintain trade volume”, said Fernando Ada. He also referred that using RMB can guarantee any payment “without risk of default”.