Latin American Regionalism and the New Regional Financial Architecture: The Proposal of the Bank of the South

Abstract

The article aims to elucidate how shifts in the Latin American political arena during the first decade of the 21st century paved the way for the emergence of the Bank of the South. It delves into the structural aspects of the bank within the context of key issues shaping post-neoliberal Latin American regionalism, the ascent of progressive administrations across various regional countries, and the divergence of differing visions regarding regional financial architecture. The article's framework encompasses a contextual overview of Latin American regionalism, an exploration of how the Bank of the South proposal aligned with Venezuela's regional foreign policy outlook, and an analysis of the institution-building process. In doing so, it offers valuable insights into the political and structural constraints facing the Bank of the South, shedding light on the factors contributing to its subsequent decline.