MILANO – Brazil e Argentina soon they could have a common currency: the Sur. The writes it Financial Times explaining that the two countries will announce this week the start of work to arrive at a shared currency. The announcement should be made by the president of Argentina Alberto Ferndndez and that of Brazil Luiz Inacio Lula da Silva who in the next few will be together in Buenos Aires for the summit of celac, the Community of 33 Latin American and Caribbean States. The goal of is to strengthen trade between the two South American giants and to reduce dependence on the US dollar. Initially the new currency is expected to circulate in parallel with the existing currencies, the Brazilian real and the Argentine peso.
Brazil, anatomy of an attempted coup
by Carlo Bonini (editorial coordination) and Fabio Tonacci (Brasilia). Multimedia coordination by Laura Pertici. Gedi Visual production
“The decision will be made to start studying the parameters needed for a common currency, including fiscal aspects, public finances and the role of central banks,” he explained on the Financial Times Argentine Economy Minister Sergio Massa. Brazil and Argentina have been discussing the possibility of a single currency since early 2019, although the proposal was initially opposed by the Brazilian central bank. The Financial Times explains that the intention is to invite other South American countries to join the ‘Sur’ in the future.
