Brazil and Argentina’s common currency ambitions highlight renewed de-dollarisation desires
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Loading... - Omar Oscar
- 04 Feb 2023
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Talk of de-dollarisation — and putting an end to the dollar’s hegemony — has been doing the rounds for decades, but recent economic and geopolitical developments have again highlighted the momentum building against the dollar’s dominance as the reserve and payment currency of the world. The dollar’s massive appreciation last year didn’t help its cause. The Dollar Index’s almost double-digit increase last year, amid already tough post-pandemic economic conditions, inflicted significant pain on emerging markets.
Dollar-denominated debt repayments soared and became unaffordable in some cases, while the rising costs of food and energy contributed to sharp rises in the cost of living and contributed to greater food insecurity. Read More…
