Mexico refuses to join the idea of creating a common currency in Latin America for commercial exchanges similar to the proposal by Brazil and Argentina, said the president on Tuesday Andres Manuel Lopez Obrador.
“We would not agree. For many reasons we have to continue maintaining the dollar as a reference,” said the president during his usual morning conference.
López Obrador was questioned about the announcement made on Monday by Brazil and Argentina that they will explore the possibility of developing a commercial exchange mechanism in which a “common currency” is used and thus reduce the dollar dependency.
López Obrador said that he does not know the details of the initiative proposed on Monday after a meeting between the presidents of Brazil, Luiz Inacio Lula da Silvaand from Argentina, Alberto Fernandez.
Lula explained that the objective is for the ministers of both countries to make a proposal so that commercial exchanges between the two countries can be carried out with a common currency.
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