Bolivian President: Stop Using the US Dollar  

By Staff, Agencies

Bolivian President Luis Arce stressed that countries around the globe should give up on the US dollar and rely on national currencies in trading with each other.

In his interview on Monday, Arce made it clear that he supports BRICS’ policies, saying that as part of “decoupling” from the US, “we need as countries in the world… to stop using the US dollar. We have also proposed it.”

“It is better to trade and trust in our own currencies or, at the very least, look for alternative payment mechanisms,” he stressed.

The Bolivian leader said that there is currently “a very clear struggle between the old, declining bloc of the US and Europe versus the emerging bloc of the BRICS countries.”

“We no longer believe that there is dominance by a single country on our planet,” he noted, referring to the US.

By obtaining the status of a BRICS partner country this year, Bolivia gained the opportunity to “access large markets and become part of the bloc that will undoubtedly generate economic benefits for everyone,” Arce said.

BRICS, which held its first summit in 2009, currently includes Brazil, Russia, India, China, South Africa, Egypt, the UAE, Ethiopia, Indonesia and Iran. In early 2025, Bolivia, Belarus, Bolivia, Indonesia, Kazakhstan, Malaysia, Thailand, Uganda, Uganda and Uzbekistan became partners of the bloc. In June, they were joined by Vietnam.