Bank of the South

The Challenges for Regional Integration - Bolivia joining Mercosur and Cuba – US relations

5 February 2016 - by Julio C. Gambina

Latin American Integration continues to be discussed as a way of addressing the repercussions of capitalism’s global crisis and aspiring to a different development of the global order. In recent days, a Mercosur meeting was held in Paraná, Argentina producing the most startling news: a way of (...)
“The alternative would be a Bank of the South, not the BRICS Bank”

22 August 2014 - by Eric Toussaint, Benito Pérez

Éric Toussaint knows what is at stake in development finance inside out. Founder of the Committee for the Abolition of Third World Debt (CADTM) in 1990, the Belgian political scientist was directly involved in launching the Bank of the South at the behest of the Ecuadorian government. Even (...)
BRICS and the tendency to sub-imperialism

10 August 2014 - by Patrick Bond

Despite their anti-imperialist potential, BRICS states have promoted neo-liberal and imperialist practices that facilitate capital accumulation, resource extraction and expansion of their markets. But growing popular unrest against exploitation, ecological destruction and neoliberalism in the (...)
Bank of the South. An Alternative to IMF-World Bank

29 July 2014 - by Eric Toussaint

Download in pdf CADTM is very pleased to make available to a wide internet public, “Bank of the South” published by Vikas Adhyayan Kendra (VAK) in Mumbai (India) in 2007. This book is a collection of articles by Eric Toussaint, Damien Millet and Daniel Munevar about the creation of the Bank (...)
BRICS Bank: Is it an alternative for development finance?

28 July 2014 - by Daniel Munevar

On July 15th, the governments of Brazil, Russia, China, India and South Africa announced the creation of a New Development Bank (NDB). According to the official press release, the main objective of the new multilateral institution is to establish an alternative to the current set of (...)
A major political move: the BRICS launch the New Development Bank and a reserve arrangement

28 July 2014 - by María José Romero

The city of Fortaleza on the north-east coast of Brazil was the selected place for a major political move by Brazil, Russia, India, China and South Africa – the so called BRICS nations - in mid July. After the 2013 fifth BRICS’s summit held in Durban, South Africa, expectations were raised for (...)
Brickbats for the BRICS bank?

23 July 2014 - by John Weeks

For many years officials of governments in African, Asian and Latin American have urged the creation of a “development” bank that they would control. On Tuesday 15 hopes become reality in Forteleza, Brazil with the formal creation of the New Development Bank by the leaders of the so-called BRICS (...)
South American countries sign Articles of Agreement of BANCOSUR

14 October 2009 - by Oscar Ugarteche Galarza

Twenty months after signing the founding charter of the Bank of the South in Buenos Aires, South American presidents signed the Articles of Agreement of BANCOSUR in Porlamar, Margarita Island, on Monday, 28 September 2009. The agreement contains rules that were negotiated by committees at the (...)
Paraguay. The Belgian who met with the president is an adviser to Correa and works with Chavez.

27 December 2008 - by ABC Digital

Eric Toussaint, the Belgian who met with the President of the Republic and then with a group of ministers, is one of the advisers to the Ecuadorian President Rafael Correa and works closely with the Venezuelan President Hugo Chavez. He is one of the ideologists of the Bank of the South. (...)
What is the Bank of the South?

19 December 2008 - by Halifax Initiative

On December 9th, 2007, representatives from Argentina, Bolivia, Brazil, Ecuador, Paraguay, Uruguay, and Venezuela met in Buenos Aires, Argentina, to launch “el Banco del Sur” or the Bank of the South (BoS). With the creation of the Bank, the leaders of Latin America envisaged a new development (...)
We need to learn the lessons of the 20^th century in order to apply them at the beginning of the 21^st century

20 October 2008 - by Eric Toussaint

Paper presented in Caracas on October 8, 2008 at the School of Planning for the international seminar titled “Responses from the South to the World Economic Crisis”. The other speakers on the panel were: Hugo Chavez, president of the Bolivarian Republic of Venezuela, Haiman El Troudi, Minister of (...)
Responses from the South to the Global Economic Crisis

Caracas - October 11, 2008 Academics and researchers from Argentina, Australia, Belgium, Canada, Chile, China, Cuba, Ecuador, Egypt, France, Mexico, Peru, Philippines, South Korea, Spain, United Kingdom, United States, Uruguay and Venezuela participated in the International Political Economy (...)
A Future for the Bank of the South ?

12 September 2008 - by Eric Toussaint

Interviewed by Politis (French weekly paper) September 2008. Q.1. The implementation of the Bank of the South, which should have been effective 60 days after its foundation by seven South American countries last December, is running late. What is the current situation ? Are there pressures (...)
International Conjuncture. Short version

5 September 2008 - by Eric Toussaint

In 1982, the epicentre of the debt crisis was in the South and the first casualties were the governments of the developing countries, who suddenly found themselves owing enormous amounts in debt repayments. In August 2007, a debt crisis exploded in the North in the world’s leading economy, (...)
International Conjuncture. Full version

5 September 2008 - by Eric Toussaint

In 1982, the external public debt crisis of the developing countries was triggered by the combined effects of the rise in interest rates imposed by the United States two years earlier, and the fall in prices of raw materials, particularly oil. The epicentre was in the South and the first (...)
Stage of definitions on the Southern Bank

8 August 2008 - by María José Romero

The Southern Bank is one of the three pillars of the new regional financial architecture in South America, together with a Southern Fund and a South American Monetary Unit. This fact was agreed upon by the presidents of Argentina, Bolivia, Brazil, Ecuador, Paraguay and Venezuela in the Quito (...)
South Bank: 90 days of silence

2 April 2008 - by Gabriel Strautman

At the launching event for the Southern Bank, held in Buenos Aires on December 9, 2007, the presidents of Bank member countries set a 60-day deadline to define the structure and guidelines of the new South American multilateral financial institution. In practice, the idea was to set a deadline (...)
Chomsky: Poorer Countries Find a Way to Escape U.S. Dominance

1 March 2008 - by Michael Shank

The famous critic lays out the emerging alternatives to the U.S.-dominated international financial institutions of the last century.
New Left-Wing Governments in South America : Venezuela, Bolivia, Ecuador : A First Balance-Sheet

27 February 2008 - by Eric Toussaint

Here is the presentation of Eric Toussaint during The Globalisation Lectures, organised by the Department of Development Studies School of Oriental and African Studies (SOAS), University of London.
The WSF and Resistances for the Global South

25 February 2008 - by Eric Toussaint

Here is the presentation of Eric Toussaint during The Globalisation Lectures, organised by the Department of Development Studies School of Oriental and African Studies (SOAS), University of London.
Making one’s own model

South Asian countries led by India should consider creating a ‘Bank of South Asia’ to finance development projects in the region and provide an alternative to the economic model forced upon many countries by the World Bank and the International Monetary Fund, political scientist and president of (...)
The Southern Bank: the struggle of the big ones against the small ones

18 January 2008 - by Oscar Ugarteche Galarza

After the launching of the Southern Bank in Buenos Aires the countries had to reach an agreement on the contribution that experts considered would be made in equal parts. Argentina, with the support of Brazil, said that this was unreasonable; that the contribution of the larger countries should (...)
Social movements debate participation in creation of South Bank

Workshop on the Bank of the South within the framework of the South American People’s Summit. Source: IFIs Latin American Monitor http://ifis.choike.org/ The following is a first report on the Workshop on the South Bank held last weekend in Montevideo. With an important participation of (...)
Movements And Social Organizations From Latin American And The World Release Open Letter On The Creation Of The South Bank

Coinciding with the signing on December 9, in Buenos Aires, of the South Bank’s Founding Act, hundreds of social movements, networks, organizations and personalities from throughout Latin America and the world are presenting to the Presidents of Argentina, Bolivia, Brazil, Ecuador, Paraguay, (...)
Second open letter to the Presidents of Argentina, Bolivia, Brazil, Ecuador, Paraguay, Uruguay and Venezuela

FOR A BANK OF THE SOUTH FOCUSED ON A MATRIX OF SOVEREIGNTY, SOLIDARITY, SUSTAINABILITY AND INTEGRATION FOR THE DEVELOPMENT OF THE CONTINENT Dear Mr. Presidents, We are addressing you for the second time to express the high expectations created in our peoples on the initiative to establish a (...)