Pyongyang, August 19 (KCNA) -- South American financial chiefs and central bankers decided Friday to launch an anti-crisis fund toward the region against global economic malaise.

"We are working in the building of a regional fund to face the international financial crisis," Argentine Finance Minister Amado Boudou told a press conference.

According to Secretary General Maria Emma Mejia of the Union of South American Nations, the fund will be drawn from the foreign reserves of regional central banks.

Besides, the South American policymakers have also agreed to promote the use of local currencies in the region's internal trade.