Proposed Brazil-Argentina common currency “met with doubts”

Source: SFGate

“A proposal floated by the leaders of Brazil and Argentina to launch a common currency is being met with deep skepticism by analysts, who say neither country is positioned to tackle such a complicated undertaking or instill confidence in the idea with global markets. Brazil’s President Luiz Inacio Lula da Silva told reporters Monday, though, that a common currency would reduce a harmful dependence on the U.S. dollar. … The currency would initially be shared between Argentina and Brazil for trade and transactions between the two countries and later be adopted by fellow members of the Mercosur trade bloc, Lula explained.” (01/23/23)