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Brazil and Argentina intend to announce soon the start of preparatory work to create a single currency, writes the Financial Times, citing officials.
According to the head of the Ministry of Economy of Argentina, Sergio Massa, the authorities of both countries will begin to “study the parameters necessary for a single currency.” It is noted that other Latin American countries will be invited to join the project.
Presumably, these plans will be officially announced during the visit of Brazilian President Luiz Inacio Lula da Silva to Argentina, which will begin on January 22.
According to one of the officials, the project was discussed by the parties before, but the progress of the negotiations was hindered by the position of the Central Bank of Brazil, which opposed the single currency. However, now that both states are led by left-wing politicians, these plans have received more support.
According to the publication, Brazil proposes to name the new currency “sur”.
Recall that earlier Brazilian President Luiz Inacio Lula da Silva, after a personal meeting with Argentine President Alberto Fernandez, announced that Brazil intends to return to friendly relations with Buenos Aires.
Source: Rosbalt
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