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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