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South American
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South American
Ministers Meet in Caracas
Caracas - Seven South American Finance
Ministers are meeting on Monday in Caracas
to continue shaping the Bank of the South.
Finance ministers of Argentina, Uruguay,
Paraguay, Ecuador, Bolivia and Brazil, plus
Venezuela, are expected to attend the
meeting, President Hugo Chavez announced.
We are committed to creating the Bank of the
South, he said, and stated that "there is a
great force against it, but we keep moving
on."
The Bank of the South foundational act was
signed in late 2007 by Argentina, Brazil,
Bolivia, Ecuador, Paraguay, Uruguay and
Venezuela, and they are still working on the
regional entity's constituent bill.
Once this entity is created, all South
American countries will be able to join,
according to the memorandum of
understanding.
Supporting productive reconversion, social
inclusion, global development of the
regional countries' strategic projects, no
matter economic differences or size.
Besides its autonomy from the International
Monetary Fund and the World Bank's
neoliberal economic policies, it will seek
to reduce internal savings deposits of the
South American regional economies in banks
of the north. |
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