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Leftist LatAm bloc seeks own multinationals34 days ago
(AP:COCHABAMBA, Bolivia) Leaders of a bloc of leftist Latin American nations say they have decided to explore creating state-sponsored food and mining multinationals.
The leaders of the Boliviarian Alternative group known as ALBA also announced plans to stop using the U.S. dollar for trade among member states starting next year. The idea is to eventually create an alternative currency, the SUCRE.
The two-day summit in Cochabamba was hosted by Bolivian President Evo Morales. Officials said Saturday that Venezuela's Hugo Chavez offered to share use of his country's new satellite with ALBA's other members, which include Ecuador, Cuba and Nicaragua.
Cuban President Raul Castro did not attend the meeting and Ecuador's Rafael Correa departed Friday.
Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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