The Union of South American Nations is considered a supranational organization, an intergovernmental union and a regional alliance, but not a single-currency union, since each South American country has its own currency.
The Union of South American Nations is a South American integration body composed of Bolivia, Guyana, Suriname, Uruguay and Venezuela, plus another five nations that have suspended their participation indefinitely. Its objective is "to build a South American identity and citizenship and to develop an integrated regional space".
In April 2018, Argentina, Brazil, Chile, Colombia, Paraguay and Peru decided to suspend their participation in the organization indefinitely due to the lack of "concrete results that guarantee the proper functioning of the organization." Four months later Colombia announced its definitive withdrawal. In March 2019, Ecuador also announced its definitive withdrawal from UNSUR.
