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| 4/16/2009 12:00:00 AM

Brazil's and Colombia's Presidents Talk About Dollar, Trade

Apr 16 -- The presidents of Brazil and Colombia – Luiz Inacio Lula da Silva and Alvaro Uribe – met on Wednesday and discussed the possibility of adopting local currencies in place of the dollar in bilateral commercial transactions, authorities said.

“The Brazilian president proposed the possibility of establishing with Colombia an identical mechanism to the one that Brazil already has with Argentina and is studying with Uruguay, which is bilateral trade in national currencies,” the Brazilian president’s international relations adviser, Marco Aurelio Garcia, told reporters.

“Uribe said he would inform his finance minister so that he can get in touch as quickly as possible with (Brazilian Finance) Minister Guido Mantega to discuss that matter,” Garcia said.
 
Read more here.
 
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