RIO DE JANEIRO — A proposal floated by the leaders of Brazil and Argentina to launch a common currency is being met with deep skepticism by analysts, who say neither country is positioned to tackle such a complicated undertaking or instill confidence in the idea with global markets.

Brazil’s President Luiz Inácio Lula da Silva told reporters Monday, though, that a common currency would reduce a harmful dependence on the U.S. dollar.

Copyright 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.

Recommended for you