Argentina and Brazil’s currency proposal met with scepticism

Experts say it is unclear whether governments want currency union or trade settlement mechanism

Argentina globe

The governments of Argentina and Brazil said they are examining a common currency earlier this month, but several observers have expressed scepticism about the idea.

Some cast doubt on whether the project aimed to create a monetary union or a more limited mechanism to support trade transactions. Several observers questioned whether Brazil and Argentina were a natural currency area.

They also noted that past governments have frequently discussed a common currency in the region, but have failed

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