South American leaders decree new currency
- Length: 4:16 minutes (3.91 MB)
- Format: MP3 Mono 44kHz 128Kbps (CBR)
The Bolivarian Alternative for the Americas, or ALBA for its Spanish acronym, was created five years ago between Cuba and Venezuela as an option to the US-backed Free Trade Area of the Americas. Since its founding, three more nations have joined, and ALBA has implemented numerous social programs and cooperation agreements, including the recently-founded ALBA bank. On Thursday, in advance of the Summit of the Americas, Latin America’s most progressive governments met in Venezuela at the seventh ALBA summit. There, they prepared their positions for the Trinidad summit, and signed the decree for a new South American currency. Mike Fox has more from Cumaná, Venezuela.