The bank of the south doesn't exist as such. If you could link its web page, name the officers, and address or email I'd like to see it, I'm a financial advisor and I like to keep up with the news. I omitted Brazil because they have their own bank to support Brazilian multinational business ventures abroad -BNDES. I don't see Brazil putting up capital to fund a bank based in Caracas. Regarding Venezuela's debt, it's quite anomalous. Not only does Venezuela carry a high debt load in bonds both domestic and foreign, it also has the PDVSA debt, the Fondo Chino debt, and the debt it owes to suppliers which exceeds $10 billion USD. Venezuela also faces very large ICSID claims, and has a deep underlying problem with high inflation, and overvalued currency, problems developing its oilfields, and a large sector of the population which probably exceeds 50 %, very dissatisfied and holding protests because they see food shortages and other problems. Uruguay is meaningless, it's a tiny country. So is Paraguay.
A banks' members are not necessarily its loan recipients. For example BNDES loans to Cuba, provided Cuba uses Brazilian goods, services and labour. And Cuba isn't about to put money in a bank. It's a very poor country.
Finally I understand the need to financing and why it should be socially conscious, but that point is irrelevant. The Bank of the South can only work if the members deposit the money so it can be loaned. Or if it has the credit rating to borrow from other institutions (which I doubt it will have). So if the member countries are all running around asking for loans and issuing debt....this bank is a ghost bank.
Chavez used to like all sorts of organizations which seem to go nowhere. He was a very eclectic man with many ideas, but he was a poor manager and didn't seem to finish most of what he started. Having a lot of ideas is nice, but eventually somebody has to make sure they get carried out. I think he was surrounded by yes men and incompetents, and things just got stuck. Did you ever hear of his original Siembra Petrolera plan? It went nowhere. It's a good example if you can find the slides in the PDVSA website they are an eye opener.
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