Bolivian President Luis Arce stated this Sunday at the BRICS summit that this bloc should generate protection and solidarity actions among the economies of member countries to confront the siege of the “economic war.”

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The Bolivian president proposed that “within BRICS, an alliance should be promoted to function as a shield that protects natural resources” and also contributes to “strengthening the economies” of the member nations.

He also suggested that they should discuss “creating a line of solidarity expressed in reasonable credits” for “the BRICS countries besieged by the economic war,” which would be granted with the support of “sovereign bonds and strategic resource bonds.”

“It is necessary to seek financial instruments to support BRICS countries that do not take into account the indicators and ratings of international risk rating agencies, which did not reflect and do not reflect the true global financial risks,” he added.

Arce stressed that “the support of countries with emerging economies” is required so that other nations can exercise their right to “political and economic self-determination.”

The Bolivian head of state affirmed that the world is “in a context of transcendental changes as a consequence of the contradictions, correlations, and geopolitical positions,” which can only be overcome through “a multipolar order and effective multilateralism.”

Arce stressed that BRICS goal must be the disconnection of the world capitalist center to build a common economic and financial system and “it is imperative to put all our efforts in that indigenous and sovereign development.”

In addition, Arce mentioned that Bolivia ratifies its “firm condemnation of Israel’s genocide” against Palestine, called for an end to the “trade blockade” on Cuba and questioned the recent “Israeli aggression towards Iran.”

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