Chancellors of the Union of South American Countries (UNASUR) met this Wednesday in Buenos Aires to discuss commercial policies proposed by the South American Economy and Finance Council, in hope of tackling the effects of the international financial crisis on the region.
The council , which is made up of economy ministers and heads of central banks throughout UNASUR member countries, approved the development of a multilateral currency exchange system. They also agreed to create a bank for regional development, as well as creating a reserve fund.
Diplomats finalised plans to create an Electoral Council, which would analyse and keep tabs on different electoral processes in member countries.
Story courtesy of Agencia Púlsar, the AMARC-ALC news agency.