Proposals for New Common Currency Resonate in Latam, to Undermine US Dollar D...
Two new proposals for a new common currency to be established in Latam have been made recently. Former Brazilian president and candidate Luis Inacio Lula Da Silva mentioned the idea in May, and the president of the Colombian Congress, Roy Barreras, mentioned the same idea during the inauguration of president Gustavo Petro earlier this month. The idea behind this would be to lessen the dependence of the region on the US dollar. Lula and Barreras Propose Latam Common Currency The proposal for a new common currency to be established between Latam countries has been revived once....
Related News
According to Chainalysis, a crypto auditing and blockchain tracking firm, the use of dollar-pegged stablecoins is growing in Latam, specifically in Argentina and Venezuela, due to the common economic problems that both countries are facing. 34% of the “small” transactions include stablecoins in Venezuela, and 31% of these in Argentina, as citizens seek to shield themselves from devaluation and inflation.
Chainalysis Report Finds Stablecoins Are Useful for Latam Countries
While criticized by many, stablecoins are becoming a significant part of the activity of the....
Sam Bankman-Fried, CEO of FTX, believes that the future of crypto is bright in Latam. In a recent interview, Bankman-Fried recognized the rising adoption and demand that cryptocurrencies are experiencing in Latam, stating that use is expected to grow for remittances and payments in the future.
Sam Bankman-Fried Talks Crypto in Latam
Latam is one of the areas globally that has become a cryptocurrency adoption hotbed due to its particular traits and circumstances, and the crypto industry is starting to notice. Sam Bankman-Fried, CEO of FTX and one of the richest men in crypto, has....
The victory President-Elect Luis Inacio Lula Da Silva obtained on Oct. 30 over the incumbent Jair Bolsonaro in Brazil might open the gates for the proposal of a single currency for the countries of Latam. Lula announced this as part of his campaign, preaching the utility of a common currency as a way of fighting inflation and dependence on the U.S. dollar. Brazil’s Lula Might Spearhead Proposal of Single Currency in Latam The tight electoral victory that now-President-Elect Lula Da Silva has obtained on Oct. 30 might bring the rise of a new common currency for Latam, judging by the....
The International Monetary Fund is predicting that Latin America (Latam) will keep growing this year, reaching a growth rate of 3% even with all of the difficulties that the region is facing. The institution believes that the economic recovery that Latam is enjoying after the Covid-19 pandemic will be decelerated by several factors, including the macroeconomic conditions, rising inflation, and increasing social tensions amidst energy and food insecurity.
IMF Predicts Latam Will Keep Growing
The International Monetary Fund has issued a series of predictions on the growth and the....
Former presidential candidate Hillary Clinton has urged nation-states to “start paying greater attention to the rise of cryptocurrency.” She warned that crypto could undermine the role of the dollar as the world’s reserve currency and could destabilize nations.
Hillary Clinton Warns Cryptocurrency Poses Risk to US Dollar and Nations’ Stability
Former Democratic presidential candidate Hillary Clinton talked about cryptocurrency Friday during a panel discussion at the Bloomberg New Economy Forum in Singapore.
While addressing a range of new....