international cooperation organization

based upon the idea of social, political, and economic integration

between the countries of Latin America and the Caribbean

by the government of Venezuela

initially proposed the failed ALCA
as an alternative to
proposed by the United States

Venezuela, Cuba, Nicaragua and Bolivia

Profile
have entered into this Tratado de Comercio de los Pueblos, or TCP
which aims to implement the principles of ALBA between those four nations

at regional economic integration

is not based primarily on trade liberalization
represents an attempt
that social welfare
but on a vision of
mutual economic aid

signed on December 14, 2004, by Presidents Hugo Chávez and Fidel Castro
medical resources and petroleum
was aimed at the exchange of
between both nations

about 96,000 barrels of oil per day

The Cuba-Venezuela Venezuela delivers from its state-owned petroleum operations
Agreement to Cuba at very favorable prices

state-employed medical staff

ALBA 20,000
Cuba in exchange sent thousands of teachers
to Venezuela's poorest states

Cuba
Venezuela
Nicaragua

President Daniel Ortega of Nicaragua signed the agreement in January 2007

Member States Venezuela agreed to forgive Nicaragua's US$31 million debt as a result
Bolivia
Honduras
Dominica
Saint Vincent and the Grenadines

a. Sistema Único de Compensación Regional

The Bolivarian Alternative for the Americas (ALBA)
b. proposed regional currency for
and Ecuador

was approved at the 7th ALBA summit in April 2009

c. as a virtual currency by early 2010
SUCRE is intended to be in use
eventually as a hard currency

initially as a virtual currency

d. The plan for its introduction parallels the European Union's introduction of the euro in 1999
which was preceded by the European Currency Unit in 1979
ALBA.mmap - 04/06/2009 - Carlos Mondragón