Not much is well in Venezuela: The economy continues its downward spiral, banks are in trouble, and alleged drug traffickers and guerrilla leaders are being harbored and/or promoted by President Chávez…oh, and the citizenry at large is facing serious food shortages. Chávez’s “21st Century Socialism” agenda is doing wonders – NOT – for the country, as seen by the latest headlines out of Caracas.
Recession continues in Venezuela; GDP tumbles 0.4 percent El Universal
Despite rising oil prices recovering by 35 percent in the last nine months, the Venezuelan economy has not emerged from recession, according to data released by the Central Bank of Venezuela (BCV). The data shows that Venezuela’s GDP shrank 0.4 percent in the third quarter of the year and throughout the first nine months of 2010, it has slumped at 2.4 percent.
Towards state socialism: A wave of nationalisation promises scarcity and decline The Economist
Owners of property, large or small, sleep uneasily in Venezuela these days. After the opposition narrowly won a majority of the vote in a legislative election in September, Hugo Chávez, the country’s leftist president, has been on a nationalisation spree, seizing everything from steel companies and bottle makers to housing schemes.
Venezuelan Congress devises a socialist financial system El Universal
The socialist production model promoted by the Venezuelan government requires a financial system which can be adapted to that plan and the National Assembly has paved the way to reach that goal and consolidate the “new financial architecture.”
Colombia: Suspected drug lord will be sent to Venezuela, not U.S. CNN
Colombian President Juan Manuel Santos said Tuesday a high-level drug-trafficking suspect wanted in the United States will be extradited instead to Venezuela, which also has asked that he be turned over to authorities in that country.
Venezuela podría detener y extraditar a Colombia a varios guerrilleros de las FARC Noticias 24
Altas fuentes de la Presidencia de la República de Colombia habrían asegurado que el presidente Hugo Chávez se comprometió con las autoridades colombianas a extraditar a un grupo de guerrilleros que se encuentran en Venezuela. Aunque no se ha confirmado el número de subversivos que enviará Chávez, trascendió que son de las filas de FARC y el ELN, según reseña el diario “El Espectador”.
Chávez backs general who is on drugs list The Wall Street Journal
President Hugo Chávez said he will on Tuesday promote to the rank of “General in Chief” a controversial top general who is on a U.S. blacklist for alleged drugs and arms trafficking.
Governo Chávez agora determina dieta dos venezuelanos AFP
O governo do presidente Hugo Chávez entrou com força na dieta dos venezuelanos, ao assumir o controle de várias empresas para conseguir a “soberania alimentar”, uma opção questionada por empresários que temem uma invasão do Estado em um campo gerido pela iniciativa privada.
Venezuela’s top food company plans major investments despite takeover threats Associated Press
Pablo Baraybar, director of Alimentos Polar, the Venezuelan corporation’s food division, gestures during an interview with the Associated Press in his office in Caracas, Venezuela, Tuesday Nov. 16, 2010. Venezuelan President Hugo Chavez threatened to “go after” Polar earlier this year, calling it a monopoly and accusing it of evading government price controls on basic foodstuffs.
‘Las sanciones tardías y torpes del Gobierno a la construcción serán el hundimiento y no la solución’ Noticias 24
En su editorial de este miércoles, Teodoro Petkoff se pregunta ¿quién responde por el fracaso de la política habitacional del gobierno?, mientras asegura que la reacción del Presidente “tardía y torpe” de sancionar a los constructores con la expropiación, significará el hundimiento de la industria inmobiliaria y no una verdadera solución al problema.
Owens-Illinois predicts lengthy legal battle with Chavez over plant takeovers Food Production Daily
O-I has forecast a long legal fight with the Venezuelan government over its decision to take over its glass packaging operations in the country, with a major issue likely to be the price the company receives for the plants. The US-based giant told FoodProductionDaily.com the situation remains uncertain and that it had been talking to officials from the South American regime in a bid to ensure continuity of supply of glass bottles and jars into the domestic food and beverage sectors.
Chávez calls US-based Citgo refining, marketing brand ‘bad business’ PennEnergy
According to a report from Reuters, Venezuelan President Hugo Chávez has called Citgo, the Venezuela-owned, US-based refining and marketing company, “bad business.”