Union of South American Nations in Mitad del Mundo, Ecuador, where the cornerstone was laid for the headquarters of the General Secretariat of the Union. In April 2018, six countries suspended membership: Argentina, Brazil, Chile, Colombia, Paraguay and Peru. In August 2018, Colombia announced its withdrawal from the organization. At the Third South American Summit on 8 December 2004, presidents or representatives from 12 South American nations signed the "Cusco Declaration", a two-page statement of intent announcing the foundation of the South American Community. Panama and Mexico attended the signing ceremony as observers in Brazil. The mechanics of the new entity came out of the
Organisation of the League of Nations with Hungary (signed at Trianon on 4 June 1920), placed under guarantee of the League of Nations, 30 August 1921. X. Articles 140 to 151 of the Treaty of Peace with Turkey (signed at Sèvres on 10 August 1920). These articles were replaced by Articles 37–45 of the new Treaty of Lausanne. The League of Nations was maintained financially by the Member States. The Assembly controlled the annual budget. The total authorized League budgets for the four years 1921–1924 gave an average of 22 757 769 gold francs per year, equivalent to 4 391 187 American dollars. This figure covered