For a chance's Entrepreneurs

Entrepreneurs in emerging countries

New Bank in South America

with 2 comments

Good Morning friends,

 

Today we may talk about the Banco del Sur, write the different views that there will be a pleasure for my blog to have your opinion.

Leaders of several South America nations have signed a founding document to create a new body, the Bank of the South, as an alternative to multilateral credit organizations such as the International Monetary Fund and World Bank.

The idea was first put forward by Venezuelan President Hugo Chavez in December 2006 as a part of his battle against the influence of the US   and the international financial institutions.

Set up by Brazil, Venezuela, Argentina, Uruguay, Paraguay, Ecuador and Bolivia the Bank del Sur’s headquarters are going to be in Caracas, with offices in Buenos Aires and La Paz.

The bank will allow the South American to assume much of the economic destiny of our countries. This not   only to finance programmers and projects,  but also deepen the integration among peoples.

 

Proponents of Banco del Sur indicate that the institution will reduce the influence of institutions like the World Bank or IMF. The views against think that reducing the influence of WB or IMF is unfavorable, that is why Peru, unlike the member countries of the South Bank, takes a more useful way to take benefits of new IMF policies.

Bank del Sur will be a well system of financing for South American?

 

 

Best regards,

 

Mireya

 

 

 

 

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Written by forachance

26 August 2008 at 9:05

2 Responses

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  1. Es una iniciatiba interesante. Sin embargo habrá que darle forma, ser pacientes y plantearse metas realistas. Una moneda unica en 5 años es mucho pedir teniendo en cuenta lo difícil que ha sido lograr la integración regional en temas mas elementales para fines de integración económica como lo son los aranceles. Por otra parte, que la financiación que dará el banco deberá darse en proyectos que finalmente contribuyan al fin último que es la integración. No debería ser un prestamista mas para cualquier urgencia nacional ni mucho menos un garante de solvencia para los mas acomodados, mas bien debería ser una entidad encargada de financiar la integración, de acuerdo a la necesidad de cada país para tal fin. Queda mucho camino por recorrer para definir una ruta de integración y poner el dinero allí. A ver si nos ponemos de acuerdo.

    Camilo

    26 August 2008 at 21:04

  2. In my opinion, one important thing of this news about the Bank of the South setting up is its paper in International Relationships (IR). The Bank of the South is the first supranational institution in this region.
    If the presidents and countries know give some of their power in benefit of the union, South America could be, with effort, an important actor in IR, in economical and political aspects. Some authors have written that the power of the world, especially in economy, has three parts: China, USA and Europe, since the first one has an enormous economical growing. But, it’s possible that the union and the setting up of supranational institutions in South America change this vision of the IR.

    It’s true that for Europe, it’s the way to act for having power in IR but it’s also true that the European Union has been building slowly and there are a lot of work to do yet. We must wait for seeing if the Bank of South America is the first step of a big structure or it’s just the only step.

    Patricia

    27 August 2008 at 12:53


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