Brazil, Argentina set to announce a joint currency – report

Share with:


Brazil, Argentina set to announce a joint currency – report

The plan will focus on how a new currency which Brazil suggests calling the “sur” (south) could boost regional trade and reduce reliance on the US dollar.

By REUTERS

Published: JANUARY 22, 2023 12:07

Email
Twitter
Facebook
fb-messenger

   

 A man places the national flags of Brazil and Argentina before the opening ceremony of the World Trade Organization's ministerial conference in Buenos Aires, Argentina December 10, 2017 (photo credit: MARCOS BRINDICCI)

A man places the national flags of Brazil and Argentina before the opening ceremony of the World Trade Organization’s ministerial conference in Buenos Aires, Argentina December 10, 2017

(photo credit: MARCOS BRINDICCI)

Brazil and Argentina will announce this week that they are starting preparatory work on a common currency, the Financial Times reported on Sunday.

The plan, set to be discussed at a summit in Buenos Aires this week, will focus on how a new currency which Brazil suggests calling the “sur” (south) could boost regional trade and reduce reliance on the US dollar, FT reported citing officials.

“There will be…a decision to start studying the parameters needed for a common currency, which includes everything from fiscal issues to the size of the economy and the role of central banks,” Argentina’s economy minister Sergio Massa told the Financial Times.Top ArticlesRead More

Internal Israeli politics could harm US ties, security interests – INSS

How Long Does Delta-9 THC Last?Sponsored by Crescent Canna

The Scandal at the Center of Sergey Brin’s DivorceSponsored by Puck

Dog diagnosed with bladder stones? This nutrition may help dissolve them.Sponsored by Hill’s Pet

Idea revived following change of leadership in Brazil

Politicians from both countries have discussed the idea already in 2019 but met with pushback from Brazil’s central bank at the time.

Initially starting as a bilateral project, the initiative would later be extended to invite other Latin American nations, the report said, adding that an official announcement was expected during Brazilian President Luiz Inacio Lula da Silva’s visit to Argentina that starts on Sunday night.

Sign up for the Business & Innovation Newsletter >>

Tags finance brazil economy argentina south america

Sign up for The Jerusalem Post Premium Plus for just $5
Upgrade your reading experience with an ad-free environment and exclusive content

Join Now >

Advertisement

You Might Also Like

Everyone Who Has US Dollars In Their Bank Account Should Watch ThisSponsored – usfinancial.news

When You Eat Instant Oatmeal Every Day, This is What HappensSponsored – Gundry MD

Dog have loose stools? This nutrition can make them firmer in 24 hours.Sponsored – Hill’s Pet

Is your cat 7 years or older? You’ll want to check this out.Sponsored – Hill’s Pet

The Best Walking Shoes for Men to Wear All Day Long Without Getting TiredSponsored – LENSIEH

Top US Men’s Surgeon: Do This Once Daily To ‘Shrink’ an Enlarged ProstateSponsored – healthtrend.live

The many colors of the White City

Germany awards Holocaust survivor Friedländer Federal Cross of Merit

Share with:


Leave a Reply

Your email address will not be published. Required fields are marked *