Monthly Archives: January 2011

Jan
24
2011
Posted by
admin
Comments

Newsweek: New Foreign Affairs Head Takes On Chavez

Newsweek Logo Newsweek: New Foreign Affairs Head Takes On ChavezCompanies to Chávez: Pay Up

Richard Miniter, 01.23.11

Venezuela has seized the property of more than a dozen American companies in the past 20 months, including Coca-Cola, ExxonMobil, McDonald’s, and Hilton Hotels—part of the president’s ongoing nationalization project that has appropriated more than $23.3 billion in assets since 2006. Chávez usually offers compensation, but it’s seldom paid. As a result, enraged firms such as ExxonMobil and ConocoPhillips are seeking tens of billions of dollars of relief from the World Bank’s International Center for Settlements of Investment Disputes.

Now the companies may have a powerful new advocate on their side. U.S. Rep. Ileana Ros-Lehtinen, the new chairwoman of the House Committee on Foreign Affairs, is on a collision course with the Obama administration over the seizures. While the White House prefers to take a quieter public line on Chávez, Ros-Lehtinen is pushing for better protection of American property in Venezuela. Whether or not she gets Obama to take a tougher public stance, her base (and the business community) will surely relish the fight.

 
Jan
21
2011
Posted by
admin
Comments

In Case You Missed It: Venezuela, Haiti with the highest political risk

El Universal

1.20.2011

Aon Corporation, a global provider of risk management services, released a Political Risk Map that ranked Venezuela as one of the 11 countries with the highest political risk in the world.

Venezuela’s level of risk was only matched by Haiti, a country that is mired in a serious social, economical and political crisis.

According to AON, Venezuela has a high risk in all the variables analyzed in the study, including war and political violence, sovereign default risk, and foreign exchange transfer problems. In addition to this, Venezuela and Colombia are the only countries in the hemisphere that have war risks.

In the case of Venezuela, AON highlighted massive expropriations and the limited ability to demand payment of obligations from the State.

Click here to view the AON Political Risk Map

 
Jan
21
2011
Posted by
admin
Comments

Articles Roundup…Week of 1/17/2011

There has been a lot of activity this week in Venezuela. In case you missed it, here’s the latest:

Dissenting governors urge Chávez to uphold reconciliation El Universal

Henrique Salas Feo, the governor of the state of Carabobo (central Venezuela), requested the Executive Office to revoke the enabling law immediately

Chávez in “fast-track” to legislate against speculation El Universal

President of the Venezuelan National Statistics Institute (INE) announced that the government is discussing the possibility of resuming the mandatory retail price (PVP)

Is It Finally Over For Venezuela And The Chavez Regime? Business Insider

Petro-dictatorships typically boom and bust with the price of oil, so you’d think that Venezuela would be riding high right now…But a new report from Morgan Stanley presents a picture of a country that’s actually falling further and further out of debt, while running low on hard dollars.

US supports Chavez’s request to intercept drug planes El Universal

US drug czar Gil Kerlikowske on Tuesday in Colombia stressed Venezuelan President Hugo Chávez’s recent announcement that Caracas will intercept any drug traffic aircraft overflying Venezuelan territory.

In the Assembly shall be the action: Officials and opponents discuss Chavez’s speech today Noticias24

Today the National Assembly will have its first Heavyweight debate: government supporters and opponents discuss the speech Memoria y Cuenta 2010 that President Hugo Chavez presented on Saturday to parliament.

Venezuela, Haiti with the highest political risk in the region El Universal

Aon Corporation, a global provider of risk management services, released a Political Risk Map that ranked Venezuela as one of the 11 countries with the highest political risk in the world.

Chavez says he won’t give up decree powers AP

President Hugo Chavez said Thursday he won’t relinquish special legislative powers — a possibility he raised last week as a means of seeking reconciliation with Venezuela’s opposition.

Colombia, Venezuela defense ministers to meet over border security Colombia Reports

Colombia’s Defense Minister Rodrigo Rivera will travel to Caracas next week to meet with his Venezuelan counterpart Carlos Jose Mata Figueroa to discuss the weak border security.