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filoria@lemmy.ml to World News@lemmy.ml · 2 years ago

Argentina formally announces it won't join the BRICS alliance in Milei's latest policy shift

apnews.com

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Argentina formally announces it won't join the BRICS alliance in Milei's latest policy shift

apnews.com

filoria@lemmy.ml to World News@lemmy.ml · 2 years ago
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Argentina has formally announced it won't join the BRICS bloc of developing economies. Friday's announcement is just the latest in a dramatic shift in economic policy triggered by Argentina’s new far-right President Javier Milei.
  • El Barto@lemmy.world
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    2 years ago

    Why doesn’t south America agree on a single currency like the Euro?

    The Peso. The Sol. The Amero.

    • deafboy@lemmy.world
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      2 years ago

      Because the governments would no longer be able to fake the exchange rate, and their socialist policies would’ve been reveald as a scams they are, without the keys to the money printer.

      Also, who would be in charge of the monetary union? A bunch of countries that couldn’t even managed their own monetary systems?

      Going with an existing foreign currency as a base is probably better until the situation stabilizes a bit.

    • Skua@kbin.social
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      2 years ago

      Argentina and Brazil have apparently been looking at it https://www.reuters.com/markets/currencies/brazil-argentina-begin-preparations-common-currency-ft-2023-01-22/

      I assume that the rest of Mercosur would be invited over time if it’s successful

      • sparky@lemmy.federate.cc@lemmy.federate.cc
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        2 years ago

        Some countries would need to stabilise their economies before this would be viable, Argentina in particular with the huge inflation and debt problems would be too much of a liability.

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