Guyana president confident of economic stability of UNASUR member states

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by Caribbean News Now Staff

GEORGETOWN, Guyana — The new chairman of the Union of South American Nations (UNASUR), Guyana’s President Bharrat Jagdeo is confident of the economic stability of the 12-member group.

The Guyana Chronicle reported that Jagdeo said that, though the global financial crisis has had an effect the world over, the countries of UNASUR have continued to thrive, in some cases growing their economies, as the impact in this part of the world was somewhat minimal.

Jagdeo told a news conference that countries like Brazil and Guyana have continued to expand on social programmes and increased jobs, while most of the world’s largest players, especially in Europe and North America, have suffered widespread losses of jobs, homes and cuts in spending on social programmes.

What this demonstrates, the Guyanese president pointed out, is that South America has been "marshalling its resources better than most other regions" and is developing its own "homegrown policies" to bolster the economies of its nations.

Similar sentiments were expressed by Ecuadorian president and economist, Raphael Correa Delgado, who said that the reason for the economic success employed by UNASUR members lies in the fact that these nations "no longer follow orthodox economic policies — or IMF or World Bank recipes… we are looking for our own answers, our own solutions to our problems."

Correa said that the solutions found are based on the internal markets and reflect the "sovereign policy" of the nations.

Jagdeo said, though, that the collective challenge rests in the abilities of the UNASUR members to "to consolidate this gain, to reform the global institutions so that when we work hard, when we develop our societies, there is a sympathetic international economic and financial environment that allows us to prosper."

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