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Analysis: Economy

FAO Representative Debunks Myth of Increased Hunger in Venezuela, Highlights Urban Farming Initiatives

FAO representative for Venezuela, Marcelo Resende (Photo: Miguel Romero)

FAO Representative Marcelo Resende says Venezuela's urban agriculture is playing a key role in improving food sovereignty.

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Raising the Price of Gasoline: An Inflationary Measure for No One’s Benefit

It is estimated that 100,000 barrels of oil and gasoline are smuggled out of Venezuela daily (Credit teleSur)

Deivi Peña argues that increasing the price of gasoline will give the Venezuelan oligarchy an excuse to intenify the economic war by setting off a further spiral of inflation that will harm working class people. 

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An Oral History of Grassroots Venezuelans in the Midst of the Economic War

A woman shows her constitution and support for President Maduro at Plaza Bolivar on January 21. (Cory Fischer-Hoffman)

While the shortages and long-lines are creating serious inconveniences and undeniable burdens on most Venezuelans, beyond the frustration, the voices of grassroots Venezuelans are getting lost beneath negative predictions of macroeconomic collapse. In this oral history collage, members of the Venezuelan grassroots and popular movements speak for themselves about the roots of the economic war, their strategies in the face of it, and the solutions that they propose.

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Venezuela's Bolivar Needs Bold Action

Venezuelan President Nicolas Maduro announced that he would not be making significant changes to the Exchange rate system. (PHOT

Venezuelan President Nicolas Maduro made a point of downplaying his foreign exchange reforms last Wednesday, and good thing he did. The reforms are bound to do little to curb Venezuela's economic problems, despite the fact that genuine changes to the exchange system are urgently needed.

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Revolution, Counter Revolution, and the Economic War in Venezuela: Part II

Member of the Venezuelan National Guard stands by a large supply of hoarded cooking oil.  (PHOTO:Venezuelasolidarity)

William Camacaro and Frederick B. Mills offer an important overview of the current economic war in Venezula. Part II focuses on the need to change the economic model in Venezuela and explores the balance of political and economic forces in Venezuela today.

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Revolution, Counter Revolution, and the Economic War in Venezuela: Part I

Trade Unionists hold up signs that say "No to the Economic War!" (PHOTO: From Archives)

William Camacaro and Frederick B. Mills offer an important overview of the current economic war in Venezula. In Part I of this two-part series, the authors give an overview of the current political climate in Venezuela and provide historical context for the use of food as a political weapon. By examining the 1973 Coup in Chile and the way that control of food was used during the 2002 coup in Venezuela and the 2003 Oil strike, the authors push for a deeper understanding of the current political climate in Venezuela today. Part II focuses on the need to change the Economic model in Venezuela.

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Economic Solutions: Two Perspectives from the Bolivarian Left

Women buy toilet paper in Caracas Supermarket (PHOTO: The Guardian)

In the face of on-going shortages of basic consumer goods, soaring inflation, a multi-pronged and broken currency exchange system and now falling oil prices, Venezuela's economic “crisis” is now being acknowledged at the highest levels of government. As opposed to the simplistic mainstream media coverage that attempts to blame Venezuela's woes on the boogie monster of “socialism,” we present two perspectives from within the Bolivarian Revolution on concrete public policy solutions to Venezuela's economic crisis.

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China, the CELAC, and Venezuela

(archive)

Venezuelan writer Luis Britto Garcia discusses the massive impact Chinese investment has had on recent Latin American development, while calling for strict outlines to be drawn to protect Venezuelan sovereighnty in the midst of heightened negotiation.

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Bias Creates Investment Opportunities in South American Bonds

Despite continued reporting that Venezuela will default on its debt, Mark Weisbrot, co-founder of the Center for Economic and Po

Despite continued reporting that Venezuela will default on its debt, Mark Weisbrot, co-founder of the Center for Economic and Policy Research, argues that default is unlikely.

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Fixing the Exchange Rate System in Venezuela

Most of Venezuela’s economic problems can be traced to the country’s dysfunctional exchange rate system, argues Weisbrot (ar

When it comes to economic policy, the ideas of the public can matter a lot. Elected governments have to worry about being re-elected, and this is certainly the case in Venezuela, where the electorate is polarized and the last presidential election was close.

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The Silent Success Of Cooperatives In The Bolivarian Revolution

The CECOSESOLA (Cooperatives of Social Services of Lara State) food co-op consists of 538 worker-members who sell to 60,000 shop

Dada Maheshvarananda presents how cooperatives are a strong force of community empowerment that are transforming people's values from being self-centered to actively working for the common good in Venezuela.

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Venezuela’s Decision Not to Devalue Its Currency Raises Questions

José Khan, Director of the Central Bank of Venezuela (BCV) stated that Venezuela will not devalue the bolivar currency (El Univ

Cory Fischer Hoffman looks at the pressures facing the Venezuelan economy and the questions raised by the decision of President Nicolas Maduro’s government not to adjust (devalue) the country’s exchange rate in the near future.

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The Corporate Assault on Latin American Democracy

ICSID logo (archive)

In recent years, the ever-aggressive corporate war on Latin American societies has entered a new phase, one in which major battles are being decided on the fourth floor of the World Bank headquarters in Washington, by an obscure and increasingly powerful institution known as the International Center for the Settlement of Investment Disputes.

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The Limits of Changes – Venezuela: Terminal Crisis of the Rentier Petro-State?

Caracas, Venezuela (archive)

Venezuelan author Edgardo Landar reviews recent and long term developments in the country’s politics and economy, and argues that the Bolivarian project must move beyond the “petro-state” in order to make further progress toward its transformative goals.

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Bolivia-Venezuela Comparisons Should be Very Helpful to Radical Chavistas

Bolivian president Evo Morles (left) and Venezuelan president Nicolas Maduro (La Prensa / EFE)

Emersberger responds to the recent opinion article “Paralysed Venezuela vs Thriving Bolivia”, arguing: “Maduro’s government, like that of Chavez before him, is facing an economic war and other forms of destabilization. The lesson from Bolivia isn’t that it must try harder to win over foreign and domestic elites.  On the contrary, Bolivia’s example offers ways to fight more effectively.”

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