President of Colombia defends Pix after US criticism: ‘I ask Brazil to extend the system’

‘No one is going to make us change PIX’, says Lula when commenting on a US report. The President of Colombia, Gustavo Petro, came out in defense of the PIX instant transfer system and asked for the tool to be adopted in his country. The demonstration was made in a publication on the social network When commenting on the topic, the Colombian president stated that the Brazilian model represents a more efficient alternative and criticized mechanisms used by the United States in the international financial system. “I asked Brazil to extend the PIX system to Colombia”, wrote Petro. Initial plugin text In the same publication, the Colombian president harshly criticized the list of sanctions issued by the Office of Foreign Assets Control (OFAC), an agency of the American Treasury. According to him, the mechanism “is no longer a weapon against drug trafficking” and is being used as an instrument of political control. Petro also stated that major leaders of international trafficking are able to circumvent the system and live in luxury outside their countries, while the tool would be used to pressure political opponents around the world. The president also once again defended a more democratic global governance and criticized international conflicts, stating that wars “are useless” and generate losses for all humanity. The statements come amid a growing debate about the role of PIX in the global financial system. Created by the Central Bank in 2020, the Brazilian model has consolidated itself as one of the country’s main payment methods and has been studied for international operations. Gustavo Petro REUTERS/Luisa Gonzalez Last Wednesday (1st), a report released by the White House again highlighted PIX as a system harmful to credit card giants. “The Central Bank created and regulates the PIX; US stakeholders fear that the BC [Banco Central] give preferential treatment to the system, harming American providers of electronic payment services. The use of PIX is mandatory for institutions with more than 500,000 accounts.” In the document that made the process official, the Trump administration did not mention PIX directly, but made reference to “digital commerce and electronic payment services”, including those offered by the Brazilian State. Luiz Inácio Lula da Silva reacted to Trump’s criticism and stated that Brazil does not intend to back down in its use of the system. The Central Bank, in turn, is working on expanding the tool, including the possibility of integration between countries in the future. “The United States made a report this week about the PIX, they said that the PIX distorts international trade, because I think the PIX creates problems for their currency”, introduced Lula. PIX belongs to Brazil, and no one is going to make us change PIX because of the service it is providing to Brazilian society”, added the PT member. Next, Lula said that the Brazilian government, on its own initiative, can even “improve PIX, so that, increasingly, it can meet the needs of women and men” who use the tool.

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