THS Bolivia's de-dollarization efforts
The Bolivian boliviano (the national currency) is fixed to the US dollar under an incomplete crawling peg system. Bolivia is currently facing an acute shortage of US dollars, with the central bank's reserves having plummeted from $15 billion to just under $2 billion. The causes of this shortage include inflation, political instability, and declining gas exports. In response to this shortage, the Bolivian government has sought to de-dollarize the economy. It's done so primarily by expanding its trade with and seeking more loans and investments from China, thereby increasing its reserves of Chinese yuan.