Chavez, who says he wants to eliminate the “dictatorship” of the U.S. dollar, has promoted the expanded use of the sucre, a virtual currency created by the Alba bloc in 2009, for regional trade. The regional development bank, which is backed by Nicaragua, Cuba, Bolivia and Venezuela, is focused on supporting sustainable projects, reducing poverty, and promoting integration and sovereignty of member nations with a “just, dynamic, harmonic and equitable economic exchange,” according to the bank’s website.
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