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Argentina to contribute US$ 400 millions to Bank of South

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ocpagu Donating Member (154 posts) Send PM | Profile | Ignore Thu Sep-01-11 10:49 AM
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Argentina to contribute US$ 400 millions to Bank of South
It was Hugo Chavez who first held the idea of creating a multilateral institution that promotes social and economic development in South American Nations. In 2009, the presidents of Argentina, Brazil, Uruguay, Paraguay, Ecuador and Bolivia joined the Venezuelan leader and signed an agreement establishing the Bank of South with an initial capital of US$ 20 billion and US$ 7 billion in startup capital to become operating.

The lawmaker Claudio Lozano explains that the Argentine Congress will debate -and probably pass- this country's initial contribution of US$ 400 millions to the Bank of the South next September 7th.

Considered a significant step towards South American integration, the lending organization emerges as an opportunity to break up with decades of privatizations, government deregulation and unrestricted free market access for foreign corporations imposed by the IMF and the World Bank in the region.

Read more and see the video:
http://www.presstv.ir/detail/196663.html
http://en.wikipedia.org/wiki/Bank_of_the_South
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ocpagu Donating Member (154 posts) Send PM | Profile | Ignore Thu Sep-01-11 10:53 AM
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1. The South American presidents...
...signing the found charter of the bank, in Buenos Aires.



Love this picture.
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Peace Patriot Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Sep-01-11 06:25 PM
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3. Who is the man to the right of Chavez? Do you know?
Such an incredible and historic moment! This is what it's ALL ABOUT in Latin America now, with the overwhelming success of the Left in elections and their amazing unity on creating a better and more just future for LatAm. This photo, and the foundation of the Bank of the South, says it all. It's sad, though, that Nestor Kirchner is gone. His alliance with Chavez is what started the key movement toward cooperation. I'll never forget reading what he replied to the Bushwhacks, when they sent down their dictate that South American leaders must "isolate Chavez." "But he's my brother!" Kirchner replied.

He looks so well and so happy in this photo. He did not have long to live.
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rabs Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Sep-01-11 06:49 PM
Response to Reply #3
4. The man to the right of Chavez is ...



... Nicanor Duarte, former president of Paraguay, before Fernando Lugo.

Duarte, of the Colorado Party, was (is) known as being leftish, favoring regional development. That is why he was at the ceremony as a founding member of the Bank of the South charter.








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Peace Patriot Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-02-11 10:02 AM
Response to Reply #4
5. Thanks for the info! I have wondered who was making the surprising progressive decisions
in Paraguay, just before Bishop Lugo was elected, that favored the Leftist movement toward integration, cooperation and social justice--for instance, Paraguay joining the Bank of the South (--didn't realize that Paraguay's rightwing government had helped found it), and other items, like ending their non-extradition law (which had made Paraguay into a notorious haven for war criminals from other countries) and ending legal immunity for U.S. military personnel. I figured these were just pragmatic business decisions--conditions for trade agreements in a region that was fast moving Left--but seeing Duarte there among the founders of the Bank of the South, indeed, among the MOST revolutionary Leftist leaders of the continent, I'm thinking that there might have been something a bit more visionary going on, among some rightwing leaders in Paraguay, than mere business pragmatism (i.e., Paraguay small, poor, with few products to export, better "get with the program" on trade agreements, development money, etc.).

I hope this is true because Bishop Lugo, like Chavez, has serious cancer, and is even more of a pivotal figure than Chavez is, for pulling the fractious Left together for electoral victories. I think that the leftist democracy revolution would have occurred in Venezuela without Chavez. It was that well-organized "from the bottom" (social movements, grass roots groups, labor leaders--as in Bolivia), but Paraguay absolutely needed the charismatic Bishop Lugo--according to analysis that I've read--to pull together Paraguay's extremely fractious leftist parties--which hadn't won a victory EVER, in Paraguay, not even in coalition to get a centrist candidate elected (Paraguay ruled by one rightwing party for 60 years including a far right bloody dictator). So, if/when Bishop Lugo dies, what is going to happen?

Paraguay's Left even yet does not have a solid foundation for further progress--for instance, a reform constitution (as in Venezuela, Bolivia and Ecuador). It is dominated by rich landowners and has one of the worst rich/poor discrepancies in the world, with bad, poisonous soy production its only economic anchor besides hydroelectric power--thus is dependent on the exploitation and sickening of very poor farm laborers. (It's possible that Lugo got cancer from where he lived--among the poor farm workers who were getting sprayed.) How is this situation going to improve, if the right takes over again?

On the positive side, Paraguay is surrounded by Leftist-run countries, on every border, including, now, Peru; has received significant help from Brazil's Leftist/Labor government and, of course, had the smarts to move toward Leftist integration even before Lugo was elected. I hope that leaders on the right like Duarte have the depth and vision to correct these wrongs and to move toward better wealth distribution, and/or to NOT blockade Leftist reform and the emergence of new leaders, as they have done in the past with coup d'etats and the exercise of untoward , entrenched, corrupt power. I believe that the rightwing wealthy minority still controls everything in Paraguay except the presidency--i.e., the courts, the legislature, the bureaucracy, the police, the military, all the land. And I don't know that much--or any--progress has been made in land reform, education and poverty reduction. Paraguay is a small, landlocked island of medievalism in a region of roaring progress and change for the better. What will become of it, if Lugo succumbs to cancer?
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Judi Lynn Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Sep-01-11 12:54 PM
Response to Original message
2. Wow, that's solid support, isn't it? Huge step, so urgently needed, to put some distance
between the IMF, the World Bank, and their former prey.

It means freedom in the clearest terms.

May they only succeed, steadily, forever.
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gbscar Donating Member (283 posts) Send PM | Profile | Ignore Fri Sep-02-11 10:50 AM
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6. I sincerely wish them godspeed in this effort. (nt)
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