News from Venezuela:
January 15, 2015
CARACAS, Venezuela -- Venezuelan President Nicolas Maduro said on Wednesday that the PetroCaribe agreement will continue its path toward the consolidation and transformation of a great economic zone between the regional countries that are involved. “There are 20 states that...
January 14, 2015
NEW YORK, USA -- Moody's Investors Service on Tuesday downgraded Venezuela's government bond ratings to Caa3 from Caa1 and changed the outlook to stable from negative. According to Moody's, the key drivers of Monday’s rating actions are the following: 1) Default risk has increased substantially.
January 14, 2015
The 48 percent plunge in oil price in the last five months has dramatically altered the fortunes of oil producing nations and oil-rich/dollar-poor Venezuela may have to confront yet another crisis. Oil has been boon and curse to this resource-rich South American nation with 30 million people.
December 30, 2014
MIAMI, USA -- The Inter American Press Association (IAPA) on Monday expressed outrage at a hand-grenade attack on a newspaper in Venezuela and called on the authorities of that country to act urgently to identify those responsible for this act of violence and bring them to justice.
December 29, 2014
CARACAS, Venezuela -- Just days after Venezuela’s tourism minister announced a plan to attract more tourists to the country, a group of seven armed bandits robbed some 300 people relaxing on a Caribbean beach in eastern Venezuela. The attack took place on Friday at Arapito Isla Beach.
December 27, 2014
Two days before Christmas, the Saudi oil minister, Ali al-Nami, made a statement that is likely to change geo-politics and the face of the world economy in 2015. Speaking to The Middle East Economic Survey, a specialist oil industry publication, the minister said that the Organisation of Oil Producing...
December 20, 2014
NASSAU, Bahamas -- The Bahamas’ murder rate is among the top 15 in the world, according to the United Nations (UN) and World Health Organization’s (WHO) 2014 Global Status Report on Violence Prevention. Based on the data compiled in the report, The Bahamas has the 11th highest homicide rate.
December 17, 2014
The foreign policy gimmick known as ALBA, created by the late Hugo Chavez to bolster his international standing relative to the United States, held a summit in Cuba this week. Attendees, including Dominica’s prime minister, seemed to ignore the elephant in the room: A remaking of the world economic order.
December 11, 2014
CARACAS, Venezuela -- With revenue from the world's largest reserves of crude oil plummeting along with the price of global oil, Venezuela is seeking to improve its image and promote its diverse natural attractions to make tourism a major source of revenue, tourism minister Andres Izarra said.
December 10, 2014
MIAMI, Florida -- The Inter American Press Association (IAPA) on Tuesday condemned a court ruling in Venezuela that it said contravened constitutional principles on freedom of expression and transparency, and amounted to “judicial censorship contrary to the people’s right to information about matters of public interest.”
December 8, 2014
CARACAS, Venezuela -- Shipments of cut-rate oil from Venezuela to Caribbean and Central American countries under the PetroCaribe programme were cut by about 20% through October compared with the same period last year, ClipperData, a New York data tracker, has reported.
December 5, 2014
NEW YORK, USA -- According to a blog post by John-Paul Rathbone and Andres Schipani in the Financial Times, socialist Venezuela may sell out its Caribbean friends to capitalist Wall Street by securitizing debts owed under its $3.5 billion a year PetroCaribe subsidised oil program.
December 1, 2014
CARACAS, Venezuela -- Venezuelan President Nicolás Maduro announced plans on Friday to cut public spending as the price of oil continued to fall after the Organisation of Petroleum Exporting Countries (OPEC) decided on Thursday not to cut production in order to boost prices.
November 29, 2014
PARIS, France -- Two newspaper photographers and a TV cameraman have received death threats from members of Venezuela’s Bolivarian National Guard (GNB) in charge of security at David Viloria Penitentiary (also known as Uribana prison) in the western state of Lara on 24 November.
November 28, 2014
The government of Venezuela is undoubtedly disappointed with the outcome of the 166th meeting of the Organisation of Petroleum Exporting Countries (OPEC) held in Vienna, Austria, on 27 November 2014. Despite intense lobbying by Venezuela, the OPEC decided not to cut oil production.
November 27, 2014
VIENNA, Austria -- Venezuela wants oil prices to return to $100 a barrel, the country’s foreign minister said on Tuesday, ahead of a meeting of the Organization of the Petroleum Exporting Countries (OPEC). Speaking to reporters, Rafael Ramirez, who will represent Venezuela at the gathering on Thursday...
November 26, 2014
MIAMI, USA -- At least four Caribbean Community (CARICOM) member countries are taking steps to reduce their reliance on Venezuela’s PetroCaribe oil subsidy as crude prices plunge, according to the International Monetary Fund (IMF). The four countries are Guyana, Haiti, Belize and Jamaica.
November 25, 2014
WASHINGTON, USA -- The International Monetary Fund (IMF) says it is monitoring the potential impact of Venezuela's current economic stress on PetroCaribe, the country’s oil alliance with several Caribbean islands, and it also wants to know what PetroCaribe money was used for in St Vincent.
November 15, 2014
CARACAS, Venezuela -- The Venezuelan government confirmed this week that it will not devalue its currency or take any other measures to stop the country from sinking deeper into chaos. In the meantime, investors are abandoning Venezuela at a stunning rate. Over the past year, the country with the world’s...
November 15, 2014
ISTANBUL, Turkey -- Under the theme “Building Our Traditions and Our Future,” the Office of the President of Religious Affairs of Turkey (Diyanet) is hosting the First Latin American Muslim religious leaders summit in Istanbul, which began on Wednesday and ends on Saturday.
November 10, 2014
In St Vincent and the Grenadines the initial tale the citizenship were led to believe was PetroCaribe would supply us with cheap petrol, diesel and cooking gas. I ask was that quite simply a downright straight up and down lie? I personally think it was a lie designed to make ignorant people believe that...
November 5, 2014
BASSETERRE, St Kitts (WINN) -- St Kitts and Nevis should review its PetroCaribe arrangement with Venezuela as it is not receiving the full benefits of the program, according to the International Monetary Fund (IMF). “I think in principle it was a very good idea because then...
November 3, 2014
CARACAS, Venezuela -- With Goldman Sachs forecasting that US oil prices will drop by 10 percent next year from current levels, Venezuela's already dire economic straits seem likely to get worse before they get better. According to Paul Shortell, a Latin America analyst from the Inter-American Dialogue...
October 28, 2014
In response to the total rubbish by Larry Birns et al at COHA, a Marxist organisation in Washington DC, please read this comment from a Venezuelan: "What rubbish! Obviously the writers are not suffering from the shortages of such basics as soap... every kind of soap. When my two bars of blue soap...
October 23, 2014
With 181 out of 193 of the United Nations representatives voting yes on Thursday, October 16, the Venezuelan government has gained not only a seat on the UN Security Council, but an affirmation of a leadership role in the Americas. As a result, there are now two strong features of Venezuelan...
October 22, 2014
HAVANA, Cuba -- Presidents Evo Morales of Bolivia and Nicolas Maduro of Venezuela agreed on the success of a recent summit of the countries within the regional bloc known as Bolivarian Alliance for the Peoples of the Americas-Commercial Treaty of the Peoples (ALBA-TCP)...
October 21, 2014
GENEVA, Switzerland -- Expressing serious concern at the detention of Venezuelan opposition leader Leopoldo López, as well as more than 69 other people who were arrested in February during mass public protests that took place across the country, the United Nations human rights chief...