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Venezuela Urges Latin American
Banco del Sur
Venezuela proposed Friday that
Latin American central banks
make progress in analyzing
creation of Banco del Sur, a
financial institutional
instrument for regional
integration.
Gaston Parra, president of
Venezuelan Central Bank, said he
made particular emphasis on this
proposal in his speech on the
first day of an international
seminar for financial
integration begun in Caracas
Friday.
This idea has been advanced by
Venezuelan President Hugo
Chavez, who places great
importance on the Latin American
integration process and Parra
considered it indispensable to
start the analysis, for the
benefit of all countries.
Among other proposals, he also
mentioned creation of a single
currency, which is not an easy
task, and establishment of a
free trade zone, with common
foreign tariffs, a common market
for coordination of economic
policies, and an international
organization in this field.
Eight central bank presidents
were present in the seminar, as
well as representatives from
other banking institutions.
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