Latin American Leftists to trade in new virtual ‘sucre’ currency
13th December 2009
No sucres will be printed or coined, but the virtual currency will be used to manage debts between the nine nations in a move to reduce reliance on the US dollar.
Cuba already signed an agreement on Saturday to pay for a shipment of Venezuelan rice in sucres, according to Rogelio Sierra, the island’s deputy foreign minister. He declined to say what the shipment was worth.
That agreement was made as it emerged that cash-strapped Cuba has fallen behind on its debt to nations and multinational corporations amid the global recession.
Judging from this, I think it ought to be pronounced ‘sucker’, but that’s just me.
I am somewhat astonished that there are only nine ‘left-wing’ governments in South America.