And now, for their next trick…

Latin America’s foreign ministers are meeting for one of their jawboning session in Playa del Carmen, Mexico. But this meeting is special. The AP is reporting that the 31 Latin American nations present are “close to forming a new regional organization that would not include the U.S. or Canada.”

You don’t say. Pop the champagne. But tell me: Who’s going to pick up the check?

The OAS is funded largely by – you guessed it – the U.S. and Canada. Specifically, in 2009, of the US$78.6 million in regular fund quotas collected, 73.6% came from those two countries (US$47 million from the U.S. and US$10.9 million from Canada). Petroleum-rich Mexico, Brazil, and Venezuela chipped in only US$14.2 million combined. (Link to full PDF report.)

I’m all in favor of a regional body that is independent of U.S. influence. But it would also be independent of U.S. cash. Let’s see how they propose to pull this rabbit out of the proverbial hat.

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One Comment

  1. Posted February 22, 2010 at 3:41 pm | Permalink

    I am also looking forward to see how this is going to work out.

    I think a regional body would be very beneficial for Latin America in order to promote trade, communication and resources.

    Business Latin America

2 Trackbacks

  1. By | Lat/Am Daily on February 23, 2010 at 6:59 pm

    [...] Chávez and Uribe started “yelling and called each other names, using obscene language” during a private dinner at the “Unity Summit” taking place in Mexico. The 31 Latin American countries in attendance are supposedly in the process of forming a regional political group that excludes the U.S. and Canada. [...]

  2. By Imperial sunset « The Mex Files on February 24, 2010 at 12:03 pm

    [...] name, was, of course, the dominant “partner” in previous pan-American organizations.  The Organization of American States, for example, … is funded largely by – you guessed it – the U.S. and Canada. Specifically, in 2009, of [...]

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