(By Ernesto Cooke) – ALBA, Petro Caribe and other visionary ideas of former President Chavez will come to an end once the opposition-controlled by the US government can take the Reigns of power in Venezuela.
This was made clear by Vice Minister and President of the ALBA Bank Raúl Licausi: during a meeting with journalists at the bank on Friday 22nd February 2019.
In its own terms, the ALBA is defined as an “integration platform” whose fundamental purpose is to achieve “integral development” for Latin America and the Caribbean through a process of integration inspired by the likes of Simon Bolivar and Jose Marti.
Petro Caribe is an oil alliance of many Caribbean states with Venezuela to purchase oil on conditions of preferential payment. The alliance was launched on 29 June 2005 in Puerto La Cruz, Venezuela.
“What we have in Venezuela for the opposition is the most radical group of Right – Wing people, who don’t share any of the ideals of the South to South cooperation.”
“What is possible if they were to have their way is a merger with other world lending agencies who see ALBA bank as an exporter of the leftist ideology”, he said.
Licausi further stated that they may even want to import the IMF and World Bank policies into the ALBA Bank which will stifle countries from carrying out programs Germane to their people’s need.
Worst case scenario he said is that the bank could be closed if the Opposition were to have there way.
He said the bank is currently in a healthy state financially despite economic sanctions imposed on Venezuela by the United States government.
In St Vincent, the ALBA bank recently was instrumental with financing for the construction of the Argyle airport and have provided loans to farmers through the VincyFresh project.
ALBA has eight member countries with a combined population of 70.6 million and GDP of $557.6 billion, as of 2012.
The following countries are full members of ALBA: Antigua and Barbuda, Bolivia, Cuba, Dominica, Ecuador, Nicaragua, Saint Vincent, and the Grenadines, and Venezuela.
