Venezuela's Finances Minister: "We can do it without the tutelage of the IMF and the World Bank"
May 4 (EIRNS)--In his response to U.S. Department of State spokesman Sean McCormack, who complained of the Venezuelan government's decision to formally cut off relations with the IMF and World Bank, as announced by President Hugo Chavez at an event on Labor Day, Venezuela's Finance Minister, Rodrigo Cabezas, stated before he left for Quito, Ecuador, that in no way does it mean that Venezuela is becoming "isolated," as McCormack said, but emphasized economic relations with China, India, Russia, and Iran, which "amplify and diversify the external front of our national economy and foreign policy."
Cabezas pointed out that such a decision is part of "economic sovereignty, national sovereignty, and, as such, it's assumed." Speaking to Venezuelan radio station Union Radio, on Tuesday, May 2, Cabezas explained that, now, without the IMF and the World Bank, Venezuela will expand its role in the concert of nations, with greater freedom.
In this respect, he announced that he would join the next day in a meeting in Quito, Ecuador, with the finance ministers of Argentina, Brazil, Bolivia and Ecuador. "The theme to discuss is the financial architecture of South America.... We can do it without the tutelage of the IMF and the World Bank," he explained.