Weekly Report - 9 October 2008 (ISSN 1741-7422)

President Hugo Chávez announced this week that Venezuela was creating its “own financial system" with allied countries such as Iran, Russia, Belarus and China, on the advice of his “political father", Cuba's Fidel Castro. Chávez said that these alliances were not merely geopolitical but rather part of a plan to create a “stable global financial architecture" based on bilateral banks and funds to provide resources for joint projects in “strategic" areas such as energy, food, industry and manufacturing. 

End of preview - This article contains approximately 366 words.

Subscribers: Log in now to read the full article

Not a Subscriber?

Choose from one of the following options

• Subscribe
• Sign up for a one-time, 14-day trial