Bolivarian Alliance for the Peoples of Our AmericaWikipedia short information
ALBA or ALBA-TCP, formally the Bolivarian Alliance for the Peoples of Our America (Spanish: Alianza Bolivariana para los Pueblos de Nuestra América) or the Bolivarian Alliance for the Peoples of Our America - Peoples’ Trade Treaty (Spanish: Alianza Bolivariana para los Pueblos de Nuestra América - Tratado de Comercio de los Pueblos), is an intergovernmental organization based on the idea of the social, political and economic integration of the countries of Latin America and the Caribbean. The name "Bolivarian" refers to the ideology of Simón Bolívar, the 19th-century South American independence leader born in Caracas who wanted Hispanic America to unite as a single "Great Nation."
Founded initially by Cuba and Venezuela in 2004, it is associated with socialist and social democratic governments wishing to consolidate regional economic integration based on a vision of social welfare, bartering and mutual economic aid. The eleven member countries are Antigua and Barbuda, Bolivia, Cuba, Dominica, Ecuador, Grenada, Nicaragua, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines and Venezuela. Suriname was admitted to ALBA as a guest country at a February 2012 summit. ALBA nations may conduct trade using a virtual regional currency known as the SUCRE. Venezuela and Ecuador made the first bilateral trade deal using the Sucre, instead of the US dollar, on July 6, 2010.
The name initially contained "Alternative" instead of "Alliance", but was changed on June 24, 2009.