The arrival in the country of the president of Brazil, Lula Da Silva, on the occasion of the summit of the Community of Latin American and Caribbean States (CELAC), which will take place on January 24 in Buenos Aires.
In what will be the first trip abroad of Lula since he took power, at the beginning of the month, The announcement of a common currency between Argentina and Brazil could take place, an idea that the economic teams of both countries have been working on.
with the return of Lula to power, bilateral relations between Brazil and Argentina were restored and one of the points where both countries seek to come together is economically. “There will be a decision to start looking at the parameters needed for a common currency, which includes everything from fiscal issues to the size of the economy and the role of central banks.”informed the Minister of Economy, Sergio Massa, to the Financial Times.
The national official slipped that the project would not be limited to only two countriesbut other nations in the region would be invited. If it comes to fruition, it could become an instrument similar to the euro, which would represent 5% of the world’s GDP.
“I don’t want to create false expectations, but it is the first step on a long road that Latin America must travel”clarified Massa, who recalled that the euro took 35 years to materialize.
