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Argentina and Brazil work on the design of a common currency



The economic teams of the governments of Argentina and Brazil will work on the design of a common currency between both countries for commercial transactions.


"We want each Minister of Economy with his team to make us a proposal for foreign trade and transactions between the two countries to be made in a common currency, to be built after much debate and meetings," Brazilian President Luiz Inácio Lula Da Silva told reporters after meeting with his colleague Alberto Fernández on Monday.


Meanwhile, Fernandez acknowledged that both presidents do not know how a common currency could work, "but we do know how economies work depending on foreign currencies to be able to trade and we know how harmful all this is".

Da Silva is visiting Argentina and on Tuesday he will participate in the summit of the Community of Latin American and Caribbean States (CELAC).

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