Monetary cooperation: an analysis on SUCRE

The initiative of the Unified System for Regional Compensation, the so-called SUCRE, concerted among the main countries that comprise ALBA, born in a context of great international turmoil caused by the financial crisis of 2008. Still in the consolidation process, the system has very ambitious goals, including the use of the progressive decoupling of the dollar. The aim of this paper is to analyze the SUCRE in force since January 2010. The initiative may be a key step towards construction of a new regional financial architecture to reduce external vulnerability and structural asymmetries in the region.

KEYWORDS:
SUCRE; ALBA; trade; currency