- Created: Wednesday, 06 May 2009 10:56
- Written by Alvaro Michaels
ALBA is the new Bolivarian Alternative for the Americas. Initiated by President Chávez, it is a model for integration aimed at solving poverty, unemployment and debt. It is the re-initiation of Simon Bolivar’s idea of a union of republics, presented at the Congress of Panama in 1826. It is based on economic complimentarity, co-operation, solidarity and respect for sovereignty. It is a social and political project, not a commercial one.
This ‘titanic task’, the construction of an anti-imperialist project, has already seen solidarity in a new oil agreement ‘Petrocaribe’. Venezuela sells oil to 14 countries at 40% discount, paid over 25 years at 1% interest, with three years’ grace, and paid in goods and services to assist the weaker states. Co-operation has seen Brazil and Venezuela sign a new oil agreement, alongside very many agreements in place between Cuba and Venezuela, the founding nations of ALBA. Additionally, a new Latin American TV station, Telesur, has been created to combat Yankee propaganda. Outside of ALBA, but consistent with it, Venezuela has prompted the formation of the South American Community of Nations (2004), an initiative to integrate South American countries.