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Banco del Sur
 

 

The ‘Bank of the South’ is a development bank in Latin America established in 2009 by Argentina, Bolivia, Brazil, Ecuador, Paraguay, Uruguay, and Venezuela, with headquarters in Caracas, Venezuela, to provide an alternative to the International Monetary Fund and the World Bank as a source of loans for social programmes and infrastructure projects.

 

Reference: Oxford Press Dictonary of Economics, 5th edt.