Argentina and Brazil Advance to a New Unified Currency, The "Sur"

The currency would work in parallel to the Argentine "peso" and the Brazilian "real". This project already had its beginnings in 2019, during the governments of Mauricio Macri and Jair Bolsonaro.

Likewise, the polititian said that the project could have important advances this week after the leaders of the two countries meet during the CELAK summit, which will take place over the next few days in Buenos Aires.

"It would be a study of trade integration mechanisms," the minister, Sergio Massa, said about the new currency, which could be called "Sur" and would work in parallel to the Argentine "peso" and the Brazilian "real". In any case, it would not only cover Argentina and Brazil, but it would try to have the adding of other countries in the region. "I do not want to create false expectations, it is the first step of a long road that Latin America must travel.", he concluded.

This Sunday, the tycoon, Elon Musk, owner of some of the main multinationals in the world, celebrated the possibility of creating a common currency between Argentina and Brazil.

"It's probably a good idea," the businessman considered through Twitter in a message thread of the Whole Mars Catalog account, which cited the article of the Final Times media in which the possible creation of "Sur" was announced, the eventual currency shared by both countries.

"I am glad that the convergence to a common currency of the South is starting to be discussed. I have been working on this idea for many years, to end inflation once and for all. It is a long-term process that can start with Real Convertibility," liberal economist Martín Tetaz said about it.

On the contrary, Economics graduate Roberto Kachanosky questioned: "Who is going to support the way they want to invent for MERCOSUR? The k populism, Lula's, Evo's? Those who formulate this proposal show that they do not even know the concept of currency. They think it's an invention of the governments, no, it's a discovery of the market."

Along the same lines, financial analyst Christian Buteler remarked: "The Argentine who still has some savings capacity has already chosen what his currency is and it is neither the "peso" nor the "real"," clearly referring to the preference of savers for the US dollar.

Source: https://www.perfil.com/