Economy minister of Argentina Sergio Massa said the discussion would revolve around initial considerations for the issuance of the common currency that has been called sur, Spanish for 'south.'
Brazil and Argentina are looking to begin work on the issuance of a common currency. Sergio Massa, minister of the economy of Argentina, also stated that the two countries will be inviting other nations in the area to join this economic integration project in the future.Ministries of Brazil and Argentina will be discussing the first steps to issue a common bilateral currency.
There will be … a decision to start studying 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. I don’t want to create any false expectations … it’s the first step on a long road which Latam must travel.While the currency would be first studied and designed to be a bilateral endeavor, the project could be extended to include more nations in Latam in the long run. “It is Argentina and Brazil inviting the rest of the region,” Massa explained.
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