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Last Updated: May 3rd, 2007 - 09:03:28 |
Chavez, who hopes to turn Venezuela into a socialist state, says the organizations are to blame for continued poverty throughout Latin America and he plans to create an alternative that would be a lending bank run by nations in the region.
Leaving the International Monetary Fund and the World Bank would sever ties between the fifth largest oil supplier to the United States and the world's leading lenders to emerging nations.
"We are going to get out. We do not want to be there," Chavez, who calls Cuban leader Fidel Castro his mentor, said at an event to celebrate workers' rights.
"I want to formalize our exit from the World Bank and the International Monetary Fund," he added.
Source:Ocnus.net 2007
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