Ecuador's minister of economic policy coordination, Pedro Páez ,
proposed creating a common monetary system for Latin America during a meeting at
the headquarters of the Sistema Económico Latinoamericano (Sela) in Caracas on
20 June. Páez said that it would function as a supranational financial defence
mechanism for the region in the face of global economic uncertainty and
turbulence on international markets. The idea was supported by Venezuela which
suggested that the Banco del Sur also assist in creating a regional stock
market.End of preview - This article contains approximately 319 words.
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