As Venezuelan president Nicolas Maduro combats corruption, reassigns half of ministry positions, launches “a new stage of the revolution,” and even hints at a minimum wage increase for November, the question remains what economic steps will be taken to reverse the high inflation that critics are quick to associate with his leadership.
Venezuela’s Vice President for the Economy, Rafael Ramirez, has outlined planned changes to the exchange rate system, oil exports and gasoline subsidies as part of a strategy to achieve macroeconomic stability and overcome current economic problems.
Yesterday Venezuelan Air and Maritime Transport Minister, Herbet Garcia Plaza, announced the government had reached an agreement with representatives of leading international airlines to regulate the cost of air travel to and from the country.
El Salvador was confirmed this morning as an official member of Petrocaribe, an alliance forged by late Venezuelan leader Hugo Chavez with many Caribbean states to promote economic and social integration by trading oil at preferential prices.
Franco Vielma, a Venezuelan radio talk show host and development worker with a public company, responds to the accusation that the Venezuelan government has signed a “pact” with Halliburton and that the U.S. oil company is now “coming” to operate in the country. He explains that Halliburton has operated in Venezuela for many decades, and agreements in recent years have actually reduced the scope of company’s operations in Venezuela’s oil industry.
A motorbike paramedic “almost died” on Monday as a result of nylon placed at the exit to a tunnel in Caracas, while an attack on a PDVSA oil tanker in Carabobo has seen the company cancel its services in the area.