Arce affirmed that this critical path will strengthen economic cooperation mechanisms to overcome the vulnerabilities of an international financial system that continues to punish our countries. “It is imperative to advance the use of local currencies for trade, strengthen our regional development banking, deepen intraregional trade, and create a stabilization fund to mitigate the effects of global crises on our economies,” he stated.

The president questioned US protectionism for its negative impact on the global economy after the Donald Trump administration imposed tariffs on various countries, including Bolivia. “These types of ultra-protectionist measures by the United States violate WTO agreements, raise the risk of a trade war with harmful effects, and will not resolve the systemic crisis of capitalism, but will worsen it (…),” he said, warning that such a situation will provoke a global recession.

As part of Bolivia’s foreign policy, the Bolivian president once again advocated for multilateralism, but one that is effective and not merely symbolic. He also highlighted the importance of strengthening “our participation in these international forums to promote cooperation, solidarity, and sustainable development (…).”

Arce added that “only through this unity in diversity, which implies recognizing the right of States and peoples to choose their political and economic system, can we advance toward eradicating poverty, reducing inequalities, and building more just and equitable societies for all our citizens.”

CELAC is made up of 33 countries, including Antigua and Barbuda, Argentina, the Bahamas, Barbados, Belize, Bolivia, Brazil, Chile, Colombia, Costa Rica, Cuba, Ecuador, El Salvador, Saint Kitts and Nevis, Grenada, Guatemala, Guyana, Haiti, Honduras, Jamaica, Mexico, Nicaragua, Panama, Paraguay, Peru, Uruguay, and Venezuela.

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