VT Foreign Policy

One month after the signing of the agreement between China and Bolivia to optimise cooperation between the Industrial and Commercial Bank of China (ICBC) and Banco Unión de Bolivia and trade directly in their currencies of origin, Chinese yuan and Bolivian pesos, the first positive repercussions on the Bolivian economy are already being observed – a 30% reduction in demand for US dollars in foreign trade. The prospects are to expand the exchange, as well as to include other international currencies. In recent months, the Bolivian government has implemented several strategies to mitigate the lack of dollars in the local […] #Asia #Government #SouthAmerica Read Full Article: https://www.vtforeignpolicy.com/2024/04/bolivias-demand-for-us-dollars/?feed_id=10859

Argentina’s Risky Embrace: Dollarization and the Path to Financial Dependence Argentina, a nation long plagued by economic instability and rampant inflation, has recently embarked on a controversial path: adopting the United States dollar as its official currency. Newly Elected President Javier Milei This decision, championed by newly elected President Javier Milei and his libertarian economic policies, has sparked heated debates among economists and political analysts, raising concerns about Argentina’s potential transformation into a “financial stepchild” of the United States. Javier Milei, a flamboyant economist and political outsider, has swept into the Argentine presidency, promising radical economic reforms and a shakeup […] #Elections #Featured #Government #Investigations #World Read Full Article: https://www.vtforeignpolicy.com/2023/11/argentina-new-love-affair/?feed_id=6816