Bolivia’s President Calls on South American Countries to Ditch US Dollar, Bolster Alliances With China and BRICS

Bolivia’s President Luis Alberto Arce Catacora (Lucho Arce) has urged members and associated states of the Mercosur commercialized bloc to de-dollarize and found stronger strategical alliances with planetary organizations, including the BRICS group. “We are experiencing a important infinitesimal of modulation towards a multipolar satellite that guarantees a equilibrium of powers and respects the rule of non-interference,” helium emphasized.

Bolivia Calls for De-Dollarization astatine Mercosur Summit

Bolivia’s President Luis Alberto Arce Catacora (Lucho Arce) called for de-dollarization and accrued strategical alliances with planetary organizations, including the BRICS economical bloc astatine the 62nd Summit of Heads of State of Mercosur and Associated States successful Puerto Iguazú, Argentina.

The Southern Common Market, besides known arsenic Mercosur, is simply a South American commercialized bloc whose afloat members are Argentina, Brazil, Paraguay, and Uruguay. Venezuela joined arsenic a afloat subordinate successful 2012 but was suspended indefinitely successful precocious 2016. Bolivia, Chile, Colombia, Ecuador, Guyana, Peru, and Suriname are subordinate members of Mercosur, with Bolivia presently successful the process of becoming a afloat member.

The acme was attended by Argentina’s President Alberto Fernández, Brazil’s President Luiz Inácio Lula da Silva, Uruguay’s President Luis Lacalle Pou, and Paraguay’s President Mario Abdo Benítez. Bolivia’s president and the president-elect of Paraguay, Santiago Peña, besides attended.

The Bolivian president tweeted Tuesday astatine the decision of the gathering (translated by Google):

Our portion is earnestly affected by the restrictions imposed by the bluish fiscal system, which limits financing options, making it indispensable to trim dependence connected the U.S. dollar and diversify our economical relations.

“We indispensable question strategical alliances with different planetary actors, specified arsenic China, successful a Eurasian and Asian bloc that, organized wrong the BRICS and different integration mechanisms, are projected arsenic spaces for the operation of a caller satellite economical order,” helium added. The BRICS nations comprise Brazil, Russia, India, China, and South Africa.

Regarding Bolivia becoming a afloat subordinate of Mercosur, President Arce stated: “We judge that Bolivia’s accession to Mercosur represents a unsocial accidental to fortify integration, grow commercialized and determination cooperation.” He emphasized:

We are experiencing a important infinitesimal of modulation towards a multipolar satellite that guarantees a equilibrium of powers and respects the rule of non-interference.

Commenting connected Brazil taking implicit the rotational presidency of Mercosur connected Tuesday, the Bolivian person said: “We besides convey our champion wishes to the incoming Brazilian presidency. We are definite that nether the enactment of President Lula, guided by his integrating vision, Mercosur volition proceed to beforehand to respond to the tremendous challenges that our times present.”

Lula has expressed beardown enactment for abandoning the U.S. dollar and adopting nationalist currencies successful commercialized settlements. He besides supports the instauration of a common BRICS currency. Last month, helium announced his volition to discuss de-dollarization astatine the upcoming BRICS meeting.

What bash you deliberation astir Bolivia’s president urging South American countries to ditch the U.S. dollar and fortify alliances with China and different BRICS nations? Let america cognize successful the comments conception below.