Brazil’s left-wing leader Lula da Silva says if he wins the 2022 presidential elections, “we are going to create a currency in Latin America,” called the Sur (“South”), to combat “the dependency on the dollar”
by Benjamin Norton
Part 1
Brazil’s left-wing leader Lula da Silva has proposed creating a pan-Latin American currency, in order to “be freed of the dollar.”
A founder of Brazil’s Workers’ Party, Lula served as president for two terms, from 2003 to 2011. He is now the leading candidate as Brazil’s October 2022 presidential elections approach.
If he returns to the presidency, “We are going to create a currency in Latin America, because we can’t keep depending on the dollar,” Lula said in a speech at a rally on May 2.
He revealed that the currency would be called the Sur, which means “South” in Spanish.
Lula explained that countries in Latin America could still keep their sovereign domestic currency, but they could use the Sur to do bilateral trade with each other, instead of having to exchange for US dollars.
A founder of Brazil’s Workers’ Party, Lula served as president for two terms, from 2003 to 2011. He is now the leading candidate as Brazil’s October 2022 presidential elections approach.
If he returns to the presidency, “We are going to create a currency in Latin America, because we can’t keep depending on the dollar,” Lula said in a speech at a rally on May 2.
He revealed that the currency would be called the Sur, which means “South” in Spanish.
Lula explained that countries in Latin America could still keep their sovereign domestic currency, but they could use the Sur to do bilateral trade with each other, instead of having to exchange for US dollars.
The Sur could also help to contain inflation in the region, Lula argued.
“It is not an easy subject, but it’s interesting to explore,” he added.
Lula said the goal of the currency would be to deepen Latin American integration and strengthen the region’s economic sovereignty, weakening its dependence on the United States.
Under Brazil’s current government, led by far-right leader Jair Bolsonaro, the South American giant has subordinated itself to Washington, while viciously attacking the left-wing governments in the region.
Bolsonaro’s Brazil has refused to recognize the legitimacy of the leftist Chavista government in its neighbor Venezuela, and has even supported violent cross-border terrorist attacks against it.
If he returns to the presidency, Lula pledged that Brazil “will strengthen its relations with Latin America.”
“It is not an easy subject, but it’s interesting to explore,” he added.
Lula said the goal of the currency would be to deepen Latin American integration and strengthen the region’s economic sovereignty, weakening its dependence on the United States.
Under Brazil’s current government, led by far-right leader Jair Bolsonaro, the South American giant has subordinated itself to Washington, while viciously attacking the left-wing governments in the region.
Bolsonaro’s Brazil has refused to recognize the legitimacy of the leftist Chavista government in its neighbor Venezuela, and has even supported violent cross-border terrorist attacks against it.
If he returns to the presidency, Lula pledged that Brazil “will strengthen its relations with Latin America.”
Lula has also vowed to revive the BRICS system, integrating Brazil, Russia, India, China, and South Africa in an independent economic architecture to challenge Western financial hegemony.
In 2020, Lula published a call “For a Multipolar World.” He explained his goal is “the creation of a multipolar world, free from unilateral hegemony and from sterile bipolar confrontation,” that “would permit a true re-founding of the multilateral order, based on principles of real multilateralism, in which international cooperation can truly flourish.”
In 2020, Lula published a call “For a Multipolar World.” He explained his goal is “the creation of a multipolar world, free from unilateral hegemony and from sterile bipolar confrontation,” that “would permit a true re-founding of the multilateral order, based on principles of real multilateralism, in which international cooperation can truly flourish.”
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