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Brazil and Argentina Discuss Creation of Common Currency

by DTB
February 28, 2023
in NEWS
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Leaders revive an idea aimed at reducing reliance on the U.S. dollar

Large crowds gathered in Brazil on Monday demanding justice against protesters who stormed government buildings. President Luiz Inácio Lula da Silva inspected the damage caused by the riots on Sunday. Photo: Nelson Almeida/AFP via Getty Images

SÃO PAULO—Brazil and Argentina have started preliminary talks to create a common currency, as their leftist leaders revive a proposal that economists and central bankers have long criticized.

Brazil’s President Luiz Inácio Lula da Silva wants to boost trade with Argentina, his country’s third-largest trading partner, while improving economic cooperation, he said in a joint op-ed with his Argentine counterpart.

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