Lula da Silva proposes the creation of common currencies for the BRICS and Mercosur countries

Rio de Janeiro-Sana

Brazilian President Luiz Inacio Lula da Silva called on the member states of both BRICS and Mercosur to consider adopting a common currency to be used in exchanges between them, and to stop relying on the US dollar.

In a press conference with his Argentine counterpart, Alberto Fernandez, da Silva said: “If it were up to us, we would have exchanged national currencies so that we would not depend on the dollar.” He called for thinking carefully about establishing a common currency for the BRICS and Mercosur countries.

Lula da Silva said: “I think that over time we will reach that, and I think this matter is necessary because many countries face challenges in buying dollars,” noting that national banks in these countries may enter into appropriate agreements regarding the creation of such currencies to be used in trade. within its countries.

In addition to Brazil, BRICS includes Russia, India, China and South Africa, while the Mercosur group, which means the Southern Common Market, includes Argentina, Brazil and Paraguay.

Today, da Silva met with his Argentine counterpart, and signed a number of agreements with him related to issues of defense, health, science, economy, and cooperation in Antarctica.

In a statement after the bilateral summit that precedes the seventh summit of Latin American and Caribbean countries scheduled for tomorrow, Fernandez affirmed that Argentina stands by Brazil, its governments and democratic institutions, and said: "The challenges that Brazil and Argentina face are very similar."

The Argentine president stressed, according to Telesur, that his country would not allow “the popular sovereignty of Brazil to be attacked,” in an implicit reference to the riots organized by supporters of former right-wing President Jair Bolsonaro in Brasilia earlier this month.

Follow SANA's news on Telegram https://t.me/SyrianArabNewsAgency