Dominica to stay away from the sucre

While hoping to tap into trade arrangements being explored by the Venezuelan-led Bolivarian Alliance known as ALBA, Dominica and the other two OECS countries (Antigua and Barbuda and St Vincent and the Grenadines) with membership in that organization, have said they’ll stay away from the sucre, ALBA’s currency of choice for trading among its member states.

Dominica’s Prime Minister Roosevelt Skerrit says the OECS countries have their own Eastern Caribbean EC dollar which is pegged to the US dollar, and they are not keen on embracing the sucre at this time.

The sucre is described as the instrument for effecting the payment of trade between member states of ALBA.

“What we have indicated to our friends in ALBA is that countries like Dominica, St Vincent and Antigua cannot participate in that arrangement because our monetary policy is governed by the monetary council of the Eastern Caribbean Central Bank,” PM Skerrit said after returning home from the 11th ALBA Summit held in the Venezuelan capital Caracas last weekend.

He said while applauding the move towards the sucre, the three OECS members in ALBA made it clear that they can’t entertain that currency, and received acceptance of their position from other ALBA colleagues.

The Dominican leader also indicated that ALBA was not intended to replace OECS and Caricom arrangements, but rather to complement those regional arrangements in a more hemispheric  setting.

Dominica is pushing to export some of its water resources to its fellow ALBA-member states under the organisation’s “fair trade” initiatives.

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    February 10, 2012

    before the end of the year you must hear chavez and skerro is enemy

  2. February 10, 2012

    dominica should reexamine it’s membership in alba .
    because too many of it’s policies go against our intrest
    and values as a caribbean island nation.
    lead p m lead dont be a follower.

  3. February 10, 2012

    The three Governments made a good choice in holding on to the Eastern Caribbean Dollar.

    Anonymous, Dominica is apart of the Commonwealth, are we using pounds, we are apart of the UN are we using US Currency?

    If the PMs made it claear that they will remain with the XCD then its a good move, Dominicans are too negative them days.

  4. Anonymous
    February 9, 2012

    so what the hell is Dominica involved in ALBA for? we doh want their currency; we not putting reserves into their bank; yet we paying an ambassador heaps of money

    just what the hell is going on here?

  5. show me the money
    February 9, 2012

    The PM would be fool to get us into this SUCRE, it have no value.

    • Malatete
      February 10, 2012

      SUCK a SUCRE and SEE! – you’ll soon find nothing left of that Sucre you sucked.

  6. VOICE
    February 9, 2012

    Interesting that we can even entertain the idea of a sucre- Dominicans keep sitting on your bots and adopt a do-nothing approach . may be ver soon, the RS dollar will be on your doorsteps- and only the PM, will be able to control the exchange rate, then and only then will my people wake up from slumber.


  7. February 9, 2012

    There is nothing wrong in adopting the sucre to trade between Alba member states. You can have a basket of currencies. So go for it.

  8. lightbulb
    February 9, 2012

    is the SUCRE going to be back by GOLD!!

    • Malatete
      February 9, 2012

      Lightbulb, switch on! No currency these days is backed by gold. That effectively ended in 1971 when the U.S.A. abandoned the Gold Standard for its Dollar.

      • lightbulb
        February 9, 2012

        Malatete :) Fiat currencies only lasted a short period in comparism to commodity back currency

      • Malatete
        February 10, 2012

        But Lightbulb, not all money flat nuh? How else would it fit in people’s wallet?

      • We haven't realized?
        February 10, 2012

        The U.S didn’t abandon gold rather it was the federal govt and those international bankers. The U.S is in a state more critical than many other smaller economies. PLEASE STOP COMPARING US to the U.S. They are a very bad example, though lots of people with their limited knowledge and brainwashed world view won’t think so … its the truth.

  9. February 9, 2012

    hhhmmmm ALBA fever sweeping the eastern caribbean… see how far b/dos is.. they won’t catch the sneeze… just hope WIKILEAKS don’t sneeze next to me.. hold allu distance wiiii

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