Bolsonaro's idea of creating a single currency for Brazil and Argentina is harshly criticized by economists

In his visit to Argentina, Brazilian President Jair Bolsonaro said that he and the Brazilian Economy Minister, Paulo Guedes, are starting the debate on the achievement of the "dream of a single currency in the Mercosur region, the real peso".

Bolsonaro's speech, which occurred last Friday (07.Jun.2019), was widely criticized in Brazil. The president of the Chamber of Deputies, Rodrigo Maia, has published in his Twitter account: "Is it? Will it devalue the real? Will the dollar end up worth R $ 6.00? Coming back inflation? Hope not".

Gustavo Franco, former president of the Brazilian Central Bank and one of the parents of the Real Plan, criticized the idea of creating a single currency between Brazil and Argentina. According to Thomaz Favaro, the Latin American director of Control Risks, the 'real peso' would bring exchange problems from Argentina to Brazil

Economic journalist Miriam Leitão was quoted as saying: "The possibility of a monetary union between Brazil and Argentina is none." For her, the countries are very different. According to Míriam Leitão, "Brazil has US$ 380 billion in reserves and balanced external accounts, Argentina depends on IMF loans to meet its exchange rate commitments. They have 55% inflation and we are returning to 4%."

The idea defended by Bolsonaro and Guedes also became the target of dozens of memes on the internet. Some people have even argued that the name of the new currency should be "surreal".