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Correa about the SUCRE: "This makes us less dependent on foreign currency"

Caracas, 29 July.- on leaving the meeting with his counterpart Nicolas Maduro, Ecuador's President Rafael Correa on Monday referred to the regional currency Sucre which is implemented in some Latin American countries.

 

"The system has been successful, has increased 4 to 5 times the level of exchange," said the head of state of Ecuador from the Miraflores Palace.

 

Despite progress in this area, Correa acknowledged that there are still many things to do in relation to this currency. However, he stressed that this should be one of the steps required to achieve the integration of Latin America.

 

Ecuadorian President explained that the Sucre is not only a currency but is "a compensation system to minimize the use of foreign currency" in the marketing of Latin American products.

 

Correa explained that the operations through the Sucre will make Alba countries more independent of foreign currency (dollar) used to make their business operations. "It is absurd for our exchanges to use an extra regional currency," he said.

 

He stressed that this "empowers trade between the nations, which should rise". In this regard, the President of Ecuador exemplified his country rather than buy rustic cars to the United States, can buy Tiuna cars to Venezuela.

Source: www.noticias24.com

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Address: Av. Tamanaco de la Urbanización El Rosal,

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

Contact: contacto@sucrealba.org

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