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WEEK IN REVIEW: China Pushing for Free Trade Agreement With South America’s Mercosur Bloc

Newspapers reporting Luiz Inácio Lula da Silva’s presidential victory. Image: AFP

China is pushing for a free trade agreement with South America’s Mercosur bloc or any of its individual members (Brazil, Argentina, Paraguay and Uruguay.) The recent election in Brazil could be a game changer, with rumors that trade talks could be on the agenda of incoming President Lula da Silva’s upcoming Beijing visit. (MERCOPRESS)

Ghana is poised to seek debt relief under the G20’s controversial Common Framework initiative and, if approved, would become only the fourth country to do so.  After watching the slow debt restructuring process in both Zambia and Sri Lanka, Accra wants assurances from Paris Club creditors that negotiations would be expedited. Ghana recently defaulted on payments of its $28 billion debt, $1.7 billion of which is owed to Chinese creditors. (REUTERS)

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