Brazil

Mercosur considers use of local currencies for intra-bloc trade

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The Economy Ministers of Mercosur countries gathered to discuss the possibility of using local currencies for trade within the bloc during the LXII Ordinary Meeting of the Common Market Council.The meeting took place in Puerto Iguazú, Argentina, where the Argentine Minister of Economy, Sergio Massa, emphasized the importance of consolidating agreements in local currency to strengthen intra-bloc trade and protect the region from external shocks.Utilizing local currencies can relieve pressure on reserves and exchange rates, particularly in times of crisis.Argentina, facing its worst drought in history, sees using local currencies as a measure to alleviate the .

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