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.
Venezuelan President, Nicolas Maduro, has described the triumph of the leftwing coalition, Syriza, in the presidential elections in Greece as a "new wave of hope for Europe" after the party was elected with 36.3% of the vote on Sunday night.
On Thursday, Venezuelan President Nicolas Maduro made a much-anticipated address to the Venezuelan legislature in which he announced slight changes to monetary policies and the need to raise the extremely low cost of gasoline in the country. He also announced a 15% increase in the minimum wage and increased investment in education and housing.
Venezuelan president Nicolas Maduro shared “good news” from Chinese capital Beijing yesterday, after meeting with Chinese leaders and business owners to forge further pacts meant to mutually benefit both countries’ economies.
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.”
By SIR RONALD SANDERS- Jamaica Observer, Dec 2nd 2014
Guyanese- Antiguan scholar Sir Ronald Sanders examines the vulnerabilities of Venezuela-backed alliance Petrocaribe in the face of last week’s OPEC summit and a perceived oil glut on the horizon. Petrocaribe has provided singular economic support for over a dozen Caribbean nation’s economies, including hundreds of millions of dollars in developmental funds.
As was expected beforehand, the Organisation of Petroleum Exporting Countries (OPEC) decided not to cut production to increase oil prices at the Vienna summit yesterday. Saudi Arabia and other Gulf states indicated their willingness to endure low prices in order to maintain market share.
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.