Brazil's central bank denies single currency project and Dujovne lowers tone – Telam

The Central Bank of Brazil today denied "plans or studies for a monetary union with Argentina," announced President Jair Bolsonaro and the Minister of Economy Paulo Guedes in Buenos Aires at a meeting with businessmen and Nicolás Dujovne from Japan. who said that it is "a long process that requires before countries are ordered".

"The Central Bank of Brazil has no project or study underway for a monetary union with Argentina," according to a statement officially released by the monetary authority at the first minute today, in an extraordinary way.

The denial took place while the president was in Argentina, as part of his visit to his colleague Mauricio Macri, during his first visit to our country.

The statement adds: "There is only, as is natural in the relations between partners, dialogues on macroeconomic stability, as well as debates on risk and vulnerability reduction and institution building."

The Brazilian press points out that Guedes clarified that the idea launched of a currency that would initially be called "peso-real" between Brazil and Argentina is a "project to be developed in 20 years".

For his part, Dujovne, in dialogue with Radio Miter, said this morning that "this is a project with which we have been discussing for a while with Pablo Guedes and we share the vision that Argentina and Brazil must better integrate their economies and the rest of the world ".

Dujovne recalled that "Brazil is today engaged in a very important process, namely the pension reform, and that we have a very important electoral process to come", but "having the vision of this project helps to prioritize and give the necessary steps. "