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La ministre de l'Economie d'Argentine, Mme Felisa Miceli
Buenos Aires, Mar 20 (Prensa Latina) Argentina Economy Minister Felisa Miceli travels today to Ecuador to discuss creation of Bank of the South.
Bank of the South (BS) is a fair chance for underdeveloped countries to achieve financial independence from international bodies.
The BS, according to its promoters, will be able to assimilate part of its members' hard currency reserves now stored in the US and Europe and finance infrastructure projects in the region.
The project, devised by Venezuela and Argentina, was joined later by Bolivia, Ecuador and Brazil.
The Bank will begin operations with ten percent of the international reserves of Argentina and Venezuela, some seven billion dollars.
At the Inter-American Development Bank annual meeting in Guatemala, Miceli discussed the project with Ecuador, Bolivia and Venezuela and arranged a technical meeting on Friday in Buenos Aires.
President Nestor Kirchner recently called the BS a significant step in the process of integration and instrument to finance strategic projects.
Sources : Pensa latina
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