El Universal | Caracas 22 Jan 2008
Guyana mulls over membership in ALBA
Guyana Monday announced it would delay its entry into the Bolivarian Alternative for the Americas (ALBA) — a regional economic integration project boosted by Venezuela to counter the Free Trade Area of the Americas (FTAA), proposed by the United States.
"For the time being, Guyana has made no decision. We are analyzing the pros and the cons. We will see what happens now, as we initialed the Economic Cooperation Agreement with Europe. We will take one step at a time," said Rudy Insanally, Guyana Foreign Minister, as quoted by Efe.
Guyana declined the invitation to join the Bank of the South — another initiative of President Hugo Chávez and which intends to become an alternative to the international financial institutions such as the Washington-based Inter American Development Bank.