AS/COA Online | New ALBA Trading Currency Dawns at Bolivia Summit

Bolivian city Cochabamba played host to leaders from the Bolivarian Alliance for the Peoples of the Americas (ALBA) October 16 and 17. The meeting marked the seventh leaders summit for ALBA, now in its fifth year and with its name modified to swap “Alternative” for “Alliance” in June. At this weekend's meeting, the countries took on the weightier matter of signing a treaty to replace the dollar with a virtual currency—known as the “Sucre”—for commerce between members. Attendees also decided to sanction current member country Honduras in protest of the June 28 overthrow of Manuel Zelaya.
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