Former Colombian President Ernesto Samper explaining the importance of de-dollarizing Latin American trade during the forum “The Challenges of Integration in Latin America and the Caribbean,” organized by the Latin American and Caribbean Economic System (SELA) in Caracas on May 24, 2024. Photo: X/@SELAInforma.
Former secretary general of the Union of South American Nations (UNASUR) and former Colombian president Ernesto Samper highlighted the need for Latin America to construct a new financial architecture that allows it to overcome globalization and dollarization, thereby reducing the region’s dependency on the US dollar.
Samper made the comments on Friday, May 24, during his speech at the forum “The Challenges of Integration in Latin America and the Caribbean,” organized by the Latin American and Caribbean Economic System (SELA), held in the city of Caracas.
The former Colombian president said that a new macroeconomic policy in Latin America will strengthen development banks and establish strategic alliances with Global South banks and Asian banks.
🌎 El Secretario Permanente del #SELA, Embajador @ClaremsEndara, y el Expresidente de #Colombia 🇨🇴 y Presidente de @CEscenarios, @ernestosamperp, culminaron con éxito el FORO: “Los Desafíos de la Integración en América Latina y el Caribe”.
⏯️ Disfrútalo completo aquí ⏬… pic.twitter.com/svQHe3rWBR
— SELA (@SELAInforma) May 24, 2024
He added that Latin America must prioritize a new financial architecture, as a macroeconomic policy, “to defend ourselves from this globalization process” that goes hand in hand with the dollarization of economies.
“We have to learn to add value to what we have. We cannot continue living in extractive economies, selling what we have above or below the ground. We sell meat, cereals, fruit, coffee, gas, oil, lithium, but we are not adding anything of value to what we sell,” he remarked.
Likewise, he advocated that Latin Americans should reflect on the current challenges and potential of Latin America, arguing that it cannot be separated from the global scenario.
He said that if these ideas are really analyzed “we would realize that we are… more in need of active, not passive, non-alignment.”
In this sense, Ernesto Samper made reference to the conflicts between Ukraine and Russia, and Israel’s genocide in the Gaza Strip.
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“We are not governing the world well,” he said. “We cannot allow genocides in a globalized world. This must be treated on the basis of groups of countries that behave like a great world parliament and that the Latin American bloc expresses itself as a unified bloc.”
The Colombian politician explained that to find common paths to advance a new unity model for Latin America and the Caribbean, work must be carried out on three issues: values, social inclusion, and human mobility in the region.
(RedRadioVE) by Ana Perdigón
Translation: Orinoco Tribune
OT/JRE/SL
