Venezuela Rebuilds
Multipolar World
Caracas - Venezuela's
efforts to rebuild a multipolar world based
on real respect to
sovereignty of all
countries received new
impetus this week.
Caracas held Wednesday
the Third Special Summit
of the Bolivarian
Alternative for the
Peoples of Our America
(ALBA), a group emerged
in 2004 and currently
made up of Venezuela,
Cuba, Bolivia,
Nicaragua, Honduras and
Dominica.
Ecuador's President
Rafael Correa, who
advocated for creating a
new financial
architecture in Latin
America "for being more
autonomous and
sovereign," attended the
meeting as special
guest.
The final declaration of
the forum, convened by
Venezuelan statesman
Hugo Chavez, to seek
alternatives to face the
world economic crisis,
approves the creation of
a common currency
denominated "sucre."
The text also foster
construction of a united
monetary zone and
chamber for compensation
of payments, accompanied
by a fund of reserves
with contributions by
member countries to hold
policies of investment
for development.
The document makes
evident the wish of ALBA
member nations and
Ecuador to overcome a
monopoly of the US
dollar in the
international economic
relations.
Presidents and top
representatives promised
to articulate regional
proposals to seek
independence from world
financial mechanisms and
activate UN structures
to face current
challenges. |
