After various rumors, the presidents of Argentina and Brazil confirmed that they are advancing in the creation of
"a common South American currency"
that will work for "financial flows" and "commercial ones".
The announcement was made through a column published in the newspaper Perfil with the signature of
Alberto Fernández and Lula Da Silva,
prior to the arrival of the Brazilian president in the country to hold a bilateral meeting with his Argentine counterpart and participate in the summit of the CELAC.
"We intend to overcome barriers to our exchanges, simplify and modernize the rules, and
encourage the use of local currencies,
" they stated in the post.
In this sense, they affirmed that they decided to "advance the discussions on
a common South American currency
that can be used for both
financial and commercial flows
, reducing operating costs and our external vulnerability."
"The fluid and dynamic relationship between Brazil and Argentina is essential for the advancement of regional integration," stated the presidents.
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