Get Rid of Dollars, Bolivia Uses Yuan for Export-Import

The Bolivian government announced that this country has started using the Chinese currency, the Yuan in international payments for the export and import of goods. Quoted by the Associated Press, Saturday (29/7/2023) Bolivian Minister of Economy and Finance Marcelo Montenegro said in a press conference that financial transactions using the Yuan currency, in the period between May-July 2023, reached 278 million Yuan or the equivalent of 38, 7 million US dollars, which is 10 percent of the country's total foreign trade. Previously, Brazil and Argentina also announced their intention to use Chinese currency in trade transactions and replace the US dollar. The use of the Yuan, in the Latin American and Caribbean Sea region, especially among countries seeking to forge strong ties with China, is on the rise. Observers believe that along with the implementation of the policy of using Yuan, in Latin America, there are indications of strengthening intensity of Chinese trade and investment in this region.