Venezuela's President Hugo Chavez toured Latin America in August signing energy and other cooperation agreements with several governments. Chavez made a similar tour of the region earlier in 2007 to counter US President George W. Bush's effort to show that the US was not neglecting Latin America (see NotiCen, 2007-03-15) and to promote his Alternativa Bolivariana de las Americas (ALBA), a funding and integration effort that seeks to give governments of the region a development alternative to neoliberal financial institutions like the International Monetary Fund (IMF) and the World Bank.
LADB. "Venezuelan President Hugo Chavez Signs Multiple Regional Agreements." (2007). https://digitalrepository.unm.edu/la_energy_notien/152