Garcia proposes one currency for countries of Andean Community (CAN)

(LIP-wb) — The President of Peru, Alan Garcia, proposed the adoption of a single currency for members of the Community of Andean Nations (CAN) which would strengthen its negotiating power and consolidate the South American union.

“The great objective of this generation must be the unification of South America. Without it, we will not have economic, scientific or cultural development”, Garcia expressed.

He added that a unified currency would also boost tourism and communication technology, for example basic telephony without the burden of taxes and surcharges. “This is the challenge of this generation and a historic moment for the Andean Community", he stressed.

President Garcia inaugurated the 9th legislature of Andean Parliament today at the CAN offices in Peru, located in Lima’s district San Isidro.

Currently, the four member countries Bolivia (Boliviano), Colombia (Colombian peso), Ecuador (US Dollar), and Peru (Nuevo Sol) all have different currencies, including the latest addition, Chile (Chilean peso) who has just joined the Community a week ago.