The SUCRE was a regional currency proposed for trade between members of the Bolivarian Alliance for the Americas, a trade bloc created as an alternative to the proposed Free Trade Area of the Americas. Its name stands for Sistema Unitario de Compensacion Regional, or Unified System for Regional Compensation, and it was intended to replace the US dollar as the medium of exchange for commercial transactions among member states. The formal treaty establishing it was signed on October 17, 2009, in Cochabamba, Bolivia, and it was first used in a virtual transaction between Ecuador and Venezuela in 2010. Use of the SUCRE declined over time, and it survives today as a largely inactive proposal rather than a currency in active circulation.
Facts
Geography
Country or Jurisdiction ServedWikidata Q1148329, property P17 (country). Founding Year Founding Date Classification
Institution SubtypeInternational Organization (Non-Financial) 1 In the Other Atlases
- Also in Geography Atlas: Venezuela, located there.
Sources
1. SUCRE (Wikipedia)
2. Wikidata
Wikimedia Foundation
3. SUCRE (currency), Wikipedia
History, treaty sentence (date)
The formal treaty establishing the regional payments clearinghouse was signed by the six Latin American presidents in Cochabamba, Bolivia, on October 17, 2009.
History, treaty sentence (year)
The formal treaty establishing the regional payments clearinghouse was signed by the six Latin American presidents in Cochabamba, Bolivia, on October 17, 2009.
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