Chavez Extols Bank of the South Project
Caracas
Sep 17
Venezuelan President Hugo Chavez highlighted the Bank of the South initiative, encouraged during the recently concluded 14th NAM Summit, has had a favourable impact on the international community.
Chavez told TELESUR TV station in Havana the Venezuelan proposal to create a financial organization independent from the International Monetary Fund, the World Bank, or the US empire was well welcomed here.
Such an identity "would move and bring part of our reserves to the South," Chavez indicated, adding that is an elemental reason, because the international reserves are in the banks of the North.
A financial organization can be created with political willingness and a capital between 100 and 150 billion dollars, to thus have "an independent bank," he added.
Sep 17
Venezuelan President Hugo Chavez highlighted the Bank of the South initiative, encouraged during the recently concluded 14th NAM Summit, has had a favourable impact on the international community.
Chavez told TELESUR TV station in Havana the Venezuelan proposal to create a financial organization independent from the International Monetary Fund, the World Bank, or the US empire was well welcomed here.
Such an identity "would move and bring part of our reserves to the South," Chavez indicated, adding that is an elemental reason, because the international reserves are in the banks of the North.
A financial organization can be created with political willingness and a capital between 100 and 150 billion dollars, to thus have "an independent bank," he added.
posted by Alice at
Monday, September 18, 2006
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