(Ven-Global News) - "The Bolivarian Republic of Venezuela backs up the IDB debt relief for the poorest countries. Following principles of cooperation, solidarity and integration among the peoples, Venezuela condoned a US $ 26.2 million to the Nicaraguan government.

The Venezuelan Minister of Finances, Rodrigo Cabezas, affirmed that the Bank of the south leaps forward. He announced that a technical-economic meeting will be held in Buenos Aires, Argentina.

'Our country is not the only one committed to this initiative, but also Argentina, Ecuador and Bolivia,' pointed out Minister Cabezas. He added that the meetings held with Paraguay and Brazil have been extraordinary.

After participating in the 48th IDB Annual Meeting of its Board of Governors, held in Guatemala City, Guatemala, the Venezuelan finance minister stressed that the Venezuelan delegation backed up the IDB debt relief for the poorest countries.

'A resolution was issued in favor of Bolivia, Guyana, Haiti, Honduras and Nicaragua,' he said. He also mentioned that Venezuela condoned a US $ 26.2 million to the Nicaraguan government by following principles of cooperation, solidarity and integration among the peoples.

Minister Cabezas also said that the countries tackle the issue of sustainable energy and climate change, which was part of the IDB meeting agenda.

'The U.S. State Department, together with its allies, has proposed the possibility for the multilateral organizations to start financing biofuels projects and programs,' he pointed out.

The Venezuelan finance minister added that 'this means making Latin America produce corn and sugar cane to turn them into fuel for vehicles instead of turning them into food for our peoples.'

The Venezuelan delegation expressed its doubts and observations regarding the biofuel issue and highlighted that this is not the only option in the search for a solution to find sources of sustainable energy.

Minister Rodrigo Cabezas stressed that 'we think it is excessive to funnel US $ 200 million to this in our continent, which is known as having the highest rates of inequality and poverty in the world. It goes beyond revising the economic feasibility of this proposal; it is about revising the human feasibility instead.'

He also ruled out the actions carried out by the Institute of International Finances , which is comprised by several banks of the world and distributed a document against Venezuela.'

'We forestalled it and said it was a demonizing campaign against our economy and our political system, so we deny that Venezuela could enter an economic massive recession as they are announcing, or that the measures adopted by President Hugo Chávez undermine democracy,' he said.

Minister Cabezas guaranteed that the proposal of the Socialism of the XXI Century does not dismiss private property; the Venezuelan State tries to promote new forms of property leading to a fairer society where solidarity prevails as established in the Venezuelan Constitution, though.

The Venezuelan delegation also met with members of civic organizations, universities and the Guatemala's organized communities interested in knowing the reality of the Venezuelan political process".