Bolivia is considering starting to use the yuan, the Chinese currency, in international commercial transactions, replacing the dollar. That’s what the president of the country, Luis Arce, said this Thursday (11) during a meeting with journalists in Laz Paz.
The president said he instructed the Central Bank of Bolivia to investigate whether replacing the dollar with the yuan in payment for imports would work well. The country’s international reserves are falling, which causes a lack of liquidity in dollars. To deal with this, the Bolivian government is studying ways to reduce dependence on the US currency.
Arce mentioned other countries that have already embarked on this path, such as Argentina, Brazil, France and some Arab nations.
The possibility of Brazil starting to carry out transactions without the dollar comes after the strong repercussion of President Luiz Inácio Lula da Silva’s trip to China, in which the announcement of an agreement in this sense caused irritation in US authorities. Argentina is also expected to initiate commercial transactions through local currencies with Brazil and China.
:: Argentina will carry out transactions without the dollar; Brazil and China are main partners ::
:: Lula makes agreements with China and Argentina in search of increased trade without the dollar ::
Editing: Rodrigo Durão Coelho