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Commemorative coin presented due to thrid anniversary of the SUCRE

Thursday, 15th de may 2014.- On the third anniversary of the SUCRE, the Regional Monetary Council Unitary System Regional Payments presented today the Commemorative Coin as an emblem of the integration process in Latin America.

 

The  SUCRES commemorative coin was presented in the framework of the XXX Meeting of the Executive Board of the Monetary Council of the regional currency in which participated representatives of Bolivia, Cuba, Ecuador, Nicaragua, Venezuela and Uruguay, which will soon be added to the system. The meeting took place on Wednesday 14th and Thursday 15th in the Board Room of the Central Bank of Bolivia (BCB) of the city of La Paz.

 

The "sucre" is a unit of account and not a legal tender. Its main objective is to gradually replace the dollar in intra-regional trade between ALBA countries and consolidate a different trade in which the principles of complementarity and solidarity prevails.

 

The president of the Regional Monetary Council of SUCRE, Eudomar Tovar, reported that countries participating in the system are in an initial phase of integration, long-term tends to have a single currency. "Any process of integration comes together to consolidate from the point of view fiscal, monetary, trade and production to a single monetary system, and that will be in a very long term," Tovar said, after holding the Commemorative Coin this is just the beginning of the representation of the integration process which is on the right track and giving favorable results.

 

The president of the Central Bank of Bolivia (BCB), Marcelo Zabalaga, said that SUCREs operations are book entries, and that this currency is use to conduct regional transactions.

 

"The sucre has started operations three years ago as an experimentally manner for all types of transactions, including goods and services," said the president of the BCB.

 

He added that the SUCRE is stronger than the dollar. "70 cents of a sucre are equal to one dollar".

In recent years transactions worth approximately 1,700 million of "sucres", transactions amhzzvounting to over 2,200 million dollars are made.

Source: www.sie.com.bo

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Contact : contacto@sucrealba.org

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Address: Av. Tamanaco de la Urbanización El Rosal,

Edif. La Unión, Local 3, PB. Municipio Chacao - Estado Miranda

Phone:  Master (+058) 212-9528618  / Fax: (+058) 212-9528618

Contact: contacto@sucrealba.org

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