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Weekly Report - 11 October 2007 (INNS 1741-7422)
REGION: Banco del Sur gets go ahead
Earlier this week finance ministers of Argentina, Bolivia Brazil, Ecuador, Paraguay, Uruguay and Venezuela agreed to establish the Banco del Sur, a regional development bank. The idea, championed by Venezuela's President, Hugo Chávez , had previously received a lukewarm response from the Brazilian government. Chávez hopes the Banco del Sur will replace the Washington-based World Bank, the IMF and the IDB, which he described as "beacons of US imperialism", as the main source of finance for South American governments.
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- Latest data...