“The weight of the BRICS in the world is growing in the context of the weakening of the hegemony of Washington and the dollar, it is important that the countries of the association increase payments in national currencies,” the Bolivian president said in statements to the press at the St. Petersburg International Economic Forum (Spief 2024).

Arce affirmed that the US impositions that existed in previous times “have been decreasing over the years to give more weight to the BRICS countries, especially China, Russia and India. And these are very large markets.

President Arce also favored increasing payments in national currencies among member states and those aspiring to join the bloc.

“One of the challenges we face in building a multipolar world is the use of our currencies, the use of a different type of mechanisms, payments other than the hegemony of the dollar or the euro,” he stressed.

In his opinion, the monetary policy followed by developed countries makes financing more expensive in the world and does not help make global trade more dynamic.

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