The Unions of South American Nations, Unasur, finance officials are considering creating a 10 to 20 billion dollars emergency fund to assist nations that experience capital flight should the global economic crisis deepen, according to financial sources.
Argentine Foreign Affairs Minister Héctor Timerman received on Wednesday the president of the United Nations General Assembly, Joseph Deiss to discuss “the Malvinas situation, Unasur growing presence and the international financial crisis”, among other global issues.
Brazil’s new Defence minister Celso Amorim said he plans closer links with Unasur (Union of South American Nations) and Africa to ensure the South Atlantic turns into a peace zone free of weapons of mass destruction.
Unasur (Union of South American Nations) central bankers meeting on Friday to discuss global financial turbulence saw heightened risks and a moderation in the region's growth, they said in a joint statement published by Chile's central bank.
The Union of South American nations (Unasur), meeting in Peru Friday the region is well-positioned to withstand a sharper global downturn but want to insulate their economies further from a crisis of confidence they blame on Europe and the United States.
Unasur Finance ministers struggling to stop economic harm from several years of US dollar decline will seek to agree on a coordinated response when they meet Friday in Lima.
Brazil reiterated its intention of banning all Falklands’ flagged vessels from calling at the country’s ports and described as “illegal” the current round of oil exploration in the Islands’ waters.
South America’s top economic and monetary authorities will be meeting in Lima and later in Buenos Aires to agree on “joint and specific actions” to address the flush of global liquidity distorting regional currencies and of unsold manufactured goods threatening jobs and industry.
All South American presidents with the exception of Venezuela’s Hugo Chavez under chemotherapy treatment, and Paraguay’s Fernando Lugo, who cancelled at last moment following medical instructions, will be present at Thursday swearing in ceremony of Peruvian president-elect Ollanta Humala.
The twelve leaders of UNASUR (Union of South American Nations) will be meeting in Lima, Thursday following on the taking office ceremony of Peruvian president Ollanta Humala. All twelve presidents have confirmed attendance with the exception of Venezuela’s Hugo Chavez undergoing cancer treatment.