Opinions
Regional Integration Associations of Latin America and the De-Dollarisation of the Economy
The desire of the Latin American states to leave or, at least, significantly reduce their level of dollar dependence has not yet enjoyed success. All projects implemented by them in order to increase the use of national currencies in mutual trade basically relied on the US dollar due to the lack of an alternative to replace it. In the current conditions of transformation, not only of the international relations system, but also of the global monetary and financial system, in the future, the currencies of the BRICS countries may serve as such an alternative, writes Anna Tsibulina, Associate Professor of the Integration Processes Department at MGIMO University.