VISTING Brazilian President Luiz InÃ¡cio Lula da Silva yesterday queried the International Monetary Fund (IMF) and the World Bank for remaining silent on the economic crisis in Europe and US when in fact they had been lecturing developing countries on similar problems.
And President Lula said it is unimaginable that developing countries can still continue to be excluded from global decision making processes.
Meanwhile, Brazil and Zambia has signed eight bilateral agreements and two memoranda of understanding (MoUs) in different sectors that include agriculture, diplomatic relations, biofuels production, fighting hunger, health and others.
Speaking at State House in Lusaka, President Lula said the IMF and the World Bank did not know how to solve the economic crisis.
“We are facing a crisis in Europe, what is the size of this crisis? We do not yet know the amount of rotten money that exists in those banks in European countries.