During his 13 years in control of Venezuela, Hugo Chavez arbitrarily expropriated many domestic and foreign companies including the Exxon Corporation. Venezuela owes $2.5 billion jto the Exxon Corporation alone, and that debt will have to be paid before te regime get any money out. The default of Venezuela under the Maduro regime is inevitable.
Showing posts with label Chavez. Show all posts
Showing posts with label Chavez. Show all posts
Sunday, January 25, 2015
Maduro’s Band-Aid to Venezuela’s Economic Crisis
President of Venezuela Nicolas Maduro, instead of creating a free market economy and encourage the private industry and entrepreneurs in Venezuela, decided to put a band-aid to the Venezuelan economic crisis that the Chavez regime created. The selling of $2.5 billion in CITGO bonds and getting a $1 billion loan from CITGO will further push Venezuela into an economic meltdown. CITGO is owned by Petroleos de Venezuela (PDVSA), which is controlled by the government. This quick CITGO bonanza will temporarily alleviate the enormous cost of the Venezuelan Socialism of the XXI century created by Hugo Chavez.
Monday, January 19, 2015
Never seen before in Venezuela
Venezuela, once a rich oil producing country, has been transformed into a miserable nation, after 15 years of the Chavez/Maduro regime. Two women fighting over a diaper because of the shortage of goods in Venezuela.
The government continues unable or unwilling to solve this problem.
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