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News > Venezuela

Sao Paulo Forum: Latin American and Caribbean Currency Proposed

  • Venezuelan President Nicolas Maduro

    Venezuelan President Nicolas Maduro | Photo: VTV

Published 18 November 2022

As part of the expanded meeting of the São Paulo Forum working group, the President of the Bolivarian Republic of Venezuela, Nicolás Maduro, raised the need to open a debate to create an integrated multi-currency system for Latin America and the Caribbean.

"There are those who propose the use of a single currency; let's debate it; it would be extraordinary," asserted President Maduro, while explaining that Venezuela has experience with a multi-currency system, which has allowed the diversification of the economy of the Venezuelan people.

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From the Ayacucho Hall of the Miraflores Palace, the head of state assured that the creation of a single currency of Latin America and the Caribbean is not ruled out "to be built through the debate in the agenda of the Forum."

"We have to look inwards, towards our deepest America; there has to be a change in our behavior, in our leaders to hear and understand each other, to agree on the construction of a common economic space," he pointed out.

He also highlighted the favorable scenario that is developing in Latin America. "We are facing a favorable wave for the peoples, for the anti-neoliberal model, for the advanced pro-independence model" while rejecting "the opprobrious systems of persecution, blockades and sanctions that some peoples of the world are experiencing."

Finally, he mentioned that the space of the São Paulo Forum must be a vanguard instance in formulating policies for America "and today more than ever because there is a change of epoch in world geopolitics."

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