By Jeb Blount
Bloomberg - October 8, 2007
http://www.bloomberg.com/apps
Seven South American countries agreed to establish
Banco del Sur, a regional development bank championed
by Venezuelan President Hugo Chavez, in an effort to
expand regional trade and growth with their own
resources.
Chavez, Brazilian President Luiz Inacio Lula da Silva
and the presidents of Argentina, Bolivia, Ecuador,
Paraguay and Uruguay will inaugurate the bank on Nov.
3, in Caracas according the "Declaration of Rio de
Janeiro" signed by finance ministry officials of the
seven countries today.
"Banco del Sur is the beginning of a new financial
architecture for the South," said Rodrigo Cabezas,
Venezuela's finance minister, in comments to reporters
in Rio de Janeiro. "Our development won't be put at
the service of other countries." Today's meeting
included officials from Brazil, Argentina, Paraguay,
Uruguay, Bolivia, Ecuador and Venezuela.
1 comment:
No, Lehman Brothers perhaps
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