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Proposal for a common South American currency is the target of criticism and warnings

Since the joint announcement by the presidents of Brazil, Luiz Inácio Lula da Silva, and Argentina, Alberto Fernández, on Saturday 21st, that the creation of a common currency for South America is under study, politicians and economists have shown apprehension and alerted to the risks of the measure.

Argentina closed 2022 with inflation at around 95%, while in Brazil, the official inflation index measured by the Brazilian Institute of Geography and Statistics (IBGE) for the 12 months of last year was 5.79%.

In posts on Twitter, politicians, businessmen and economists criticized the intention of creating a

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