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Brazil for MERCOSUR Domestic Currency Trade
Brasilia - Brazil will propose at the MERCOSUR Summit Friday in Asuncion, Paraguay, to
enhance transactions in national currencies instead
of the US dollar and/or Euro.
Bruno Bath, Foreign Ministry director for the
Southern Common Market (MERCOSUR), told Agencia
Brasil that the above includes enhancing the system
to Uruguay and Paraguay.
The diplomat added that the new system, to be
introduced as the users gain confidence, will help
prevent hard currency shortage, especially amid the
current world crisis.
Proposals for on going talks of MERCOSUR Central
Bank executives include ending Common External
Double Taxation to help cement customs unity and
establishing new regulations to brace Customs.
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