Brazil has lashed out at Chavez's idea

The global economy rules igry17-10-2007 Brazil has lashed out at Chavez's idea of ??Brazilian media lashed out at the establishment in Latin America, "South Bank", which would be an alternative to conventional Western financial institutions - the International Monetary Fund, the World Bank, the Inter-American Development Bank. Recall the idea of ??a bank about a year ago was made by Venezuelan leader Hugo Chavez. In these days of the Brazilian press got and other initiatives, the Venezuelan leader. Read more about the "South Bank" in Bigness.ru: In South America, is born "socialist IMF Brazilian analysts believe that the financial plan the bank will be provided, (share capital of 7.10 billion dollars), but doubts about its effectiveness. Creating a new development bank in Latin America would be justified if the existing institutions would not be able to meet the needs of the region in the credits, they say. In their view, the region has worked well the Inter-American Development Bank, the strong position of national banks, in addition, the economy maintains a strong private capital inflows. Creating a "South Bank" according to Brazilian analysts - is primarily a political act, "provoked" Venezuelan President Hugo Chavez, who is trying to spite Washington integrate the region under its auspices.