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Bank of the South:
Politically Driven Agenda Duplicates Existing Institutions
For some years now Venezuelan President Hugo Chávez has been floating the idea of creating a Bank of the South. As with many initiatives presented by his government at international fora and gatherings of heads of state, this one first arose as a “spur of the moment” idea. This characteristic improvisational approach is at odds with the procedures within multilateral organizations, and the intense preparatory work that goes into defining agendas and laying the ground for the agreements and declarations emanating from them.
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Editorial
A Revitalized Canadian Policy for the Americas
Changes of direction in Canadian foreign policy are not usually signalled by leaks to the press, especially not under the iron discipline of the Harper government. But that appears to be what has happened to policy toward Latin America and the Caribbean. On March 26 the Canadian Press broke a story about Prime Minister Stephen Harper 's plan to undertake a major trip to Latin America and the Caribbean in a bid, according to the anonymous sources, "to raise Canada's profile and strengthen ties with a host of new leaders in the region". Visits to the major countries and to the Caribbean, possibly including Haiti, are envisaged.Cuba’s Energy Future
The United States Geological Survey (USGS) in its “Assessment of Undiscovered Oil and Gas Resources of the North Cuba Basin, Cuba, 2004”, estimated a mean of 4.6 billion barrels of undiscovered oil, a mean of 9.8 trillion cubic feet of undiscovered natural gas, and a mean of 0.9 billion barrels of undiscovered natural gas liquids in Cuba’s North Cuba Basin. If this assessment is correct it will move Cuba up the ranks, and side by side with other South American top holders of proven oil reserves such as Ecuador, Colombia and Argentina.
Brazil and Mexico Edging
Towards a Strategic Relationship?
Relations between Brazil and Mexico appear to be on a steady course to improve in the near future. The convergence of new presidential mandates in both countries—Mexico’s Felipe Calderón was inaugurated December 1, 2006 and Brazilian incumbent Luiz Inácio Lula da Silva started a second term in office this past January 1—represents a potential political catalyst for the two Latin American powerhouses to set aside past jealousies, identify shared interests and work together to realize their potential as political partners with equivalent responsibilities in the Americas and as similar economies who can benefit from cooperation when they face third countries such as the United States and China.
Troubles Mounting in Guatemala
The trip to Guatemala by US President George W. Bush last month came at a critical time for that Central American nation of 13 million. Two thorny issues dominated the agenda of the bilateral meetings with Guatemalan counterpart Oscar Berger: public security and immigration. Results were few.
News Briefs
Ecuador
Haiti-Venezuela
Bolivia