Correa said the “regional currency” would protect small countries with open economies, as is the case in several Latin American nations.
The Ecuadorian president outlined his ideas during the presentation of his book “Ecuador: From Banana Republic to the Republic not” written in 2009, in Santiago Book Fair, which opened Thursday with his Chilean counterpart, Sebastián Piñera.
This activity Correa ended a two-day official visit to Chile, where he also gave a lecture at the headquarters of the Economic Commission for Latin America and the Caribbean (ECLAC) and visited the grave of the late Chilean President Salvador Allende.
The president said some passages of the book, which offers his view of the recent economic history of the country, and gave his opinion on the steps to be taken to achieve Latin American economic development.
On the idea of a common currency in the region, Correa predicted that small countries will have trouble managing their finances amid “Gale neoliberal globalization and financial speculation.”
Correa said that a common currency in the region would be a good choice for his country, whose economy is dollarized late last century after a deep banking crisis.
The president stressed the idea that the main priority for the region is to eradicate poverty.
“Poverty in Our America is not the scarcity of resources, is the bad distribution of these resources,” he said.
The Costa Rica News (TCRN)
San Jose Costa Rica
