HAVANA TIMES, Oct. l7 – Ten Latin American and Caribbean nations decided on Friday at a meeting in Cochabamba, Bolivia to forgo the US dollar for a new regional trade currency to be called the sucre.
A summit of the ALBA trade and social development bloc decided on Friday to “replace the dollar in commercial exchanges,” between member nations.
Venezuela, Cuba, Bolivia, Nicaragua, Bolivia, Honduras, Dominica, Saint Vincent, Antigua and Barbuda and Ecuador comprise the ALBA, short for Bolivarian Alternative for the Americas.
Ecuador’s currency was called the sucre before it shifted to the US dollar nearly a decade ago along with El Salvador. It takes its name from Jose Antonio de Sucre, an early l9th century South American Independence leader who fought alongside Simon Bolivar.
In other agenda business the ALBA countries renewed their call for an end to the half-century US blockade on Cuba; as well as agreed on sanctions against the de facto rulers of Honduras.
The Central American country was represented at the summit by deposed President Manuel Zelaya’s Foreign Minister, Patricia Rodas.
Likewise, Paraguay expressed interest to request membership in the organization.
Cuba was represented at the ALBA summit by First Vice President Jose Ramon Machado Ventura.