Bank of the South: Another step toward Latin American integration
- Member countries analyze the proposal as Banco del Sur (Bank of the South) is about to be launched
- Lula, while skeptical, is moving ahead
- Dealing with the opposition to the Bank
- Not a Chávez-controlled institution, but one aimed at development and integration, infrastructure loans and aiding each other’s investment requirements
Since coming to power in 1999, Venezuelan President Hugo Chávez may have been seen as a controversial figure, universally known for his confrontational stance regarding U.S. foreign policy aims. However, his zeal for social reform, promotion of Latin American integration and his unquestionable good will toward other nations will reach a high-water mark on Sunday, December 9, 2007, when the Bank of the South will be formally launched.
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