The president of Bolivia, Luis Arce, urges the reactivation of the Union of South American Nations (Unasur) through the creation of a common currency as an alternative to the dollar to promote regional trade.

In a video released on his social networks in commemoration of the anniversary of the regional bloc, Arce highlights that Unasur represents a genuine hope to achieve unity in the south.

Arce emphasizes that the reactivation of Unasur will allow us to resume the path of fraternity, solidarity, reciprocity and fair and equitable relations, recognizing the diversity of the countries of the south and promoting their own identities and voices.

In addition, it maintains that strengthening and reactivating Unasur will allow the countries of South America to integrate into a multipolar world, based on the principle of solidarity and collectively contributing to multilateralism, in defense of life, peace, human rights and the environment.

Arce mentions that in the midst of the multiple crises of the capitalist system, Unasur offers an ideal space to achieve economic and monetary integration.

In this sense, he proposes the elimination of trade barriers in Latin America and the Caribbean, and considers the adoption of a common currency as a real and viable alternative to the dollar as a response to the crises facing the region.

K. Tovar

Source: Descifrado

(Reference image source: file)

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The governments of Brazil and Argentina will announce next week preparations to launch a common currency project that could turn the two countries, the two largest South American economies, into the world’s second-largest currency bloc.

The initial intention is that this new currency, whose name Brazil proposes to be “El Sur”, promotes regional trade and reduces the impact of the dollar. In principle, both countries contemplate a period of simultaneous trade with the Brazilian real and the Argentine peso.

“We will announce the decision to start studying the necessary parameters for a common currency, which includes everything from fiscal issues to the size of the economy and the role of central banks“, announced Argentina’s Economy Minister Sergio Massa.

“I do not want to create false expectations: it is the first step in a long road that Latin America must travel”, added the minister, who said that Argentina and Brazil will invite other countries in the region to join this project, before recalling that in Europe it took 35 years to create the euro.

Brazil and Argentina have been discussing a common currency for years, but the talks have never come to fruition due to opposition from the Central Bank of Brazil. Under the government of the left in both countries, experts understand, in relation to Lula and the Argentine president, Alberto Fernández, there is greater political support for the project.

K.Tovar

Source: ElPais

(Reference image source: file)

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La entrada Brazil and Argentina will have a common currency apareció primero en Bitfinance.