During a Mercosur summit held today in Argentina, Venezuelan president Nicolas Maduro called Barack Obama’s recent move toward normalizing US-Cuba relations “brave,” while the rest of the trade bloc released a statement condemning the US leader for approving sanctions against Venezuela last week.
Yesterday the United States Senate passed the Venezuela Defense of Human Rights and Civil Society Act of 2014 by voice vote, a bill that will impose further sanctions on Venezuelan senior government officials if passed tomorrow by Congress.
In an announcement made on Friday, Venezuelan president Nicolas Maduro pledged to slash spending in certain areas, such as senior government officials’ salaries, while swearing “we will never cut one bolivar of what we spend on education, food, housing... on our people.”
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.
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.
In a television address yesterday evening, Venezuelan president Nicolas Maduro indicated that a $4 billion loan from China would be added to the country’s international reserves. Meanwhile, as oil prices to continue to slide and with eight days to go to the next OPEC meeting, Venezuela has signed a major deal with the largest exporting non-OPEC member, Russia.
Yesterday evening, Venezuelan president Nicolas Maduro passed 28 laws by means of the enabling law, which permits executive action without Parliament approval. The bills, 16 of which were revealed in Tuesday’s promulgation ceremony, make up a comprehensive economic reform directed at industry, agriculture, tourism and tax revenue.
Venezuela’s largest pro-government trade union federation will today hand President Nicolas Maduro a series of proposals for the greater industrialisation of the economy and strategies to overcome current economic difficulties.
By Cory Fischer-Hoffman - Venezuelanalysis.com, Nov 15th 2014
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.