Government announcements during the visit of Argentinean President Néstor Kirchner to Venezuela

* Venezuelan President Hugo Chávez announced he has designated Arévalo Méndez as his ambassador to Argentina.

* The Venezuelan President announced the second issuance of the Bond of the South for USD 1.5 billion. This is a dollar-denominated note that can be purchased in Venezuelan bolivars and that combines debt titles of both Venezuela and Argentina. The bond is to be launched on February 26 and the minimum amount that can be bought is VEB 2,150,000, or USD 1,000.

* The Presidents of Venezuela and Argentina, Hugo Chávez and Néstor Kirchner, respectively, inaugurated the first oil well Argentinean firms are to operate in Venezuela. The reservoir is located in Block Ayacucho Number 6, Rig PDV 09, in San Tomé, eastern Anzoátegui state.

* Venezuela will finance Sancor -Argentina's largest dairy cooperative. The amount of the financial aid was not revealed. Previously, it was said that Venezuela would disburse USD 135 million to afford Sancor liabilities and provide capital goods.

* The rulers are to boost the creation of the Bank of the South with the aim of offsetting the power of the IMF and the World Bank.

* They agreed to build houses for low income people. Venezuela is to buy electric equipment, industrial machinery, gas-powered buses, and Argentina is to purchase fuel oil from Venezuela.