10.12.2009 - Mercosur considering “sovereign fund” as protection against weak US dollar
From Mercopress.com: Fearful of the continued depreciation of the US dollar vis-á-vis other global currencies, Mercosur country members admitted one of the possibilities under consideration for the management of international foreign reserves is the creation of a kind of sovereign fund. According to Argentine sources, during the recent Mercosur summit in Montevideo, Finance ministers from Argentina, Brazil, Paraguay and Uruguay considered different joint approaches to help reduce the risks of monetary volatility and its impact on their economies...................................Full Article: Source
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