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The Bank of the South (Spanish: Banco del Sur, Portuguese: Banco do Sul, Dutch: Bank van het Zuiden); or BancoSur is a monetary fund and lending organization established on 26 September 2009 by Argentina, Brazil, Paraguay, Uruguay, Ecuador, Bolivia and Venezuela with an initial capital of US$20 billion. Argentina, Venezuela, and Brazil were to have each pledged $4 billion, while Uruguay, Ecuador, Paraguay, and Bolivia were to have contributed smaller amounts. The intention of the bank is to lend money to nations in the Americas for the construction of social programs and infrastructure.
The project has been endorsed by Nobel Prize winning, former World Bank economist Joseph Stiglitz, with him saying that "One of the advantages of having a Bank of the South is that it would reflect the perspectives of those in the south," and that "It is a good thing to have competition in most markets, including the market for development lending."
The ultimate goal of the Bank of the South is to include every state within the region of South America. It has been established because of disapproval of the protocol of the World Bank and International Monetary Fund (IMF), in particular the enforcement of unrelated free market reforms on countries seeking emergency loans. It also represents an attempt to achieve regional independence and endogenous development. The program would lend money to any nation involved in the construction of approved programs, and without conditions traditionally attached to such loans, such as deregulation.
This page contains text from Wikipedia, the Free Encyclopedia -
http://en.wikipedia.org/wiki/Bank_of_the_South
This article is licensed under the Creative Commons Attribution-ShareAlike 3.0 Unported License, which means that you can copy and modify it as long as the entire work (including additions) remains under this license.
This article is licensed under the Creative Commons Attribution-ShareAlike 3.0 Unported License, which means that you can copy and modify it as long as the entire work (including additions) remains under this license.
The South may refer to:
This page contains text from Wikipedia, the Free Encyclopedia -
http://en.wikipedia.org/wiki/The_South
This article is licensed under the Creative Commons Attribution-ShareAlike 3.0 Unported License, which means that you can copy and modify it as long as the entire work (including additions) remains under this license.
This article is licensed under the Creative Commons Attribution-ShareAlike 3.0 Unported License, which means that you can copy and modify it as long as the entire work (including additions) remains under this license.
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Peter Brian Gabriel (born 13 February 1950) is an English singer, musician, and songwriter who rose to fame as the lead vocalist and flautist of the progressive rock group Genesis. After leaving Genesis, Gabriel went on to a successful solo career. His 1986 album, So, is his most commercially successful, and the album's biggest hit, "Sledgehammer", won a record nine MTV Awards at the 1987 MTV Video Music Awards, and the song is the most played music video in the history of the station.
More recently, Gabriel has focused on producing and promoting world music and pioneering digital distribution methods for music. He has also been involved in various humanitarian efforts. Gabriel has won numerous music awards throughout his career, including three Brit Awards—winning Best British Male in 1987, six Grammy Awards, thirteen MTV Video Music Awards, and in 2007 he was honoured as a BMI Icon at the 57th annual BMI London Awards for his “influence on generations of music makers.” Gabriel was also awarded the Polar Music Prize in 2009, and was inducted into the Rock and Roll Hall of Fame as a member of Genesis in 2010.
This page contains text from Wikipedia, the Free Encyclopedia -
http://en.wikipedia.org/wiki/Peter_Gabriel
This article is licensed under the Creative Commons Attribution-ShareAlike 3.0 Unported License, which means that you can copy and modify it as long as the entire work (including additions) remains under this license.
This article is licensed under the Creative Commons Attribution-ShareAlike 3.0 Unported License, which means that you can copy and modify it as long as the entire work (including additions) remains under this license.