The United States just announced that the the Millenium Challenge Corporation will suspend $60 million in grants to the government of Nicaragua. The reason? Rigged local elections. Now, I don't expect the aid suspension to accomplish much. It's important to bear in mind that the U.S. still provides more aid than the Bolivarian Republic to most putative members of the Bolivarian alliance.
In other Revolutionary news, the Bolivarian summit in Caracas announced that the alliance would consider establishing a common currency. That is rather weak brew, and I will be very (albeit pleasantly) surprised if it happens. Why pleasantly? Well, a common currency spanning Venezuela, Nicaragua, Cuba, Honduras, Bolivia, Dominica and possibly Ecuador would be a fascinating monetary experiment to watch. Sadly, I feel pretty confident that it isn't going to happen.
"Well, a common currency spanning Venezuela, Nicaragua, Cuba, Honduras, Bolivia, Dominica and possibly Ecuador would be a fascinating monetary experiment to watch."
Dominica? It hardly seems to fit in with the others.
Posted by: Peter | November 27, 2008 at 09:37 AM
What can I say, the Commonwealth of Dominica is a paid-up member of the Alternativa Bolivariana. It gets Venezuelan money in return for nothing that I can see, so the real question is why other small Caribbean states haven't signed on.
Posted by: Noel Maurer | November 27, 2008 at 12:00 PM