At an emergency food-security summit held May 7 in Managua, 14 Latin American and Caribbean nations convened under the umbrella of the Bolivarian Alternative for the Americas (ALBA). Nicaragua's President Daniel Ortega called the food crisis an "epic problem" caused by the "tyranny of global capitalism." At the conclusion of the summit, all but two participating nations signed a joint resolution that incorporated specific language supporting ALBA. Costa Rica and El Salvador abstained from signing. (CSM, May 8)

Venezuela's Foreign Minister Nicolas Maduro announced at the "Sovereignty and Food Security Summit" that his government would lead the region's energy-rich countries in launching an oil-for-food fund. "We will devise a formula based on the price of oil and the level of production that would allow for the creation of a special oil-for-food fund, taking into consideration the means of each country," he said. (Xinhua, May 7) Venezuela also offered allies $100 million to fight rising food costs. Maduro said the money would help finance an international grain bank for the region. (AP, May 8)

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