Trade, Money, and Finances
Transforming Capitalism: the Triple Crisis
WGI: World Governance Index (2009 Report)
The World Governance Index (WGI)
Rediscovering Nelson Mandela for the Twenty-first Century
A More Secure World: Our Shared Responsibility
Dialog of Chinese, European, and South American Civil Societies at Rio+20
Civil Society Politics Manifesto
Hearing on Neo-liberal Politics and European Transnational Corporations in Latin America and the Caribbean
Governance for Sustainability
Campaign for People’s Goals for Sustainable Development
Setting up an Arbitration Tribunal on Debt: An Alternative Solution?
The IMF, the World Bank, and Respect of Human Rights
Final Declaration "Linking Alternatives 2"
Ressentiment* and the new world governance: a general analysis
Ressentiment* and World Governance
Capitalism Has Failed: 5 Bold Ways to Build a New World
What Europe does the world need?
Persistent corruption in low-income countries requires global action
Small-scale Sustainable Farmers Are Cooling Down the Earth
Rethinking Global Governance
The Right to Water as a Human Right
The Bank of the South proposes to try to break the dependence of developing countries on international financial markets, channel their own capacity for saving, stop capital flight, channel central resources to priorities for independent social and economic development, change investment priorities, etc. It is designed as a public bank and as an alternative to the Inter American Development Bank and the World Bank.
The Bank of the South can grant credits with or without interest, as well as non-reimbursable aid in the form of donations. The Bank will be principally financed by contributions from member countries in the form of contributions and donations. Tax revenues through regional/international taxes can also be considered.
Those receiving priority credits and donations must be public entities (state, province, municipality, public corporations in the areas of production and services). Additionally, it is essential to clearly define private agents who can receive credits and donations from the bank so as to exclude strengthening big business interests from its activity. History from the past two centuries is replete with examples of public and popular banks that essentially served to strengthen capitalistic accumulation without any actual benefit for the people.
The Bank of the South cannot be disassociated from the debt situation. It is essential that the Bank avoid managing public debt for the benefit of financial capital.
Another important aspect is the necessity of popular and democratic oversight in tandem with debt-auditing initiatives. The active participation of parliaments in supervising the Bank’s role must also be encouraged.