Brazil-Argentina: summit to find alternatives to the dollar

BRASILIA-Argentine Economy Minister Sergio Massa will travel to Brazil together with President Alberto Fernández to find credit alternatives through which to spend fewer dollars in bilateral trade.According to Argentine media, Brazil will finance an export that will be paid directly in pesos to Brazilian companies, which will then convert the pesos into reais. The question has already been discussed in previous meetings between Massa and his Brazilian counterpart, Fernando Haddad.

Massa has already brokered further disbursements from the International Monetary Fund, made a yuan swap with China and is now opening the door to a new negotiating table with Brazil to curb the US dollar's surge against the Argentine currency, MercoPress reports. .