ALBA supports new common currency and Cuba

The Bolivarian Alternative for the Americas (ALBA) closed its Summit after approving a virtual common currency and siding with Cuba’s fight against the US blockade.

After signing an accord for a Single Regional Payment Compensations System (Sucre), Ministers and experts will implement pilot projects beginning in September. In the closing session President Hugo Chavez called the Sucre an opportunity to create and boost industries of the member countries aimed at meeting peoples true needs, especially food, and giving financial support to the Bank of ALBA.This ALBA Summit approved 13 projects on culture, energy, and registration of medication, plus ten on food and to boost the literacy drive in Haiti as well as $50 million to Nicaragua to help cover damages caused by the US boycott.

The Summit also adopted a document that criticizes the exclusion of Cuba from the Summit of the Americas, especially considering the world consensus to end the blockade of Cuba.

It also condemned the criminal efforts to isolate the island.The call was also made to end the economic, commercial and financial blockade of Cuba, include the Helms-Burton Act in line with documents and 17 successive UN resolutions.

After proving that the attempts to isolate Cuba have failed, the ALBA countries said there is no reason to exclude Cuba from the Summit of the Americas.

Participants in the Summit included the heads of state of Bolivia, Cuba, Honduras, Nicaragua, and Venezuela and Dominica. Invited participants included, Paraguay, St. Vincent and the Grenadines and Ecuador.

Prensa Latina