ECUADOR > The regional currency : the SUCRE

Our mission: to study the alternative currency SUCRE, in order to promote it afterwards in Europe.

Time: 3 months, one of which in Ecuador (February 2011)

The SUCRE (Sistema Único de Compensación Regional) is a regional alternative currency created to develop the countries from South America. It was adopted on April 16, 2009 by the members of Bolivarian Alternative [Alliance since 24/06/09] for the Americas (ALBA).

The economies from South and Central America countries are specialized in exploiting natural resources, whereas industry is less developed. Exchanges of goods between the ALBA countries are still limited and reach only 5 % of their total foreign exchange.

The SUCRE is meant to be a solidary and environmental tool aiming at relocating economy. It will allow ALBA countries to emancipate from dollar’s volatility and reinforce intra-regional trade.

This project will equip us with a more « macro » approach of the alternative monetary systems.

Action plan

• To meet and monitor economic, associative and political forces involved in the system.
• To grasp the institutional framework which has been set, its solution as to solidarity, its bonds with local currencies and its actual limits.
• To make reports in order to promote SUCRE in Europe.

Also read about the project that followed in Venezuela

Our contact

Pedro Paez, President of the Central Bank of Ecuador, Quito

To learn more about

read the article on SUCRE

Also discover our missions in Argentina, Uruguay, Venezuela and Brazil.