Bank of the South

According to Prensa Latina both Ecuador and Argentina are planning to help with the creation of Bank of the South. Both the Argentinean and Ecuadorian Economic Ministers meet today in Buenos Aires, May 14 to discuss the issue. More information concerning Bank of the South will be presented in a meeting with Economic Ministers from all participating countries on May 22 in Asunción, Paraguay.

The May 22 meeting to organize the basic objectives of Bank of the South between the member nations was held in Asuncion, Paraguay with all participating countries having an equal share and representation in the future bank. The starting capital is estimated to be between 300 to 500 million dollars. For further details about the newly forming bank see: MercoPress