The following is an excerpt from a BBC Report on Venezuela and is relevant for us in Dominica. I copied it because of my concern as a Dominican regarding the decisions of our own government in relation to agreements with the Venezuelan government and others as it relates to the benefits to our country and its economy. This article speaks to the fact that Mr. Chavez made very off the cuff decisions sometimes for political gain which actually had negative impacts on the Venezuelan economy. In the report it is said speaking of Mr. Chavez, “Time and again, the president would make major decisions on an ad hoc basis, often during the course of his rambling and unscripted weekly TV broadcast to the nation, known as Alo Presidente. He was particularly prone to quick-fix solutions in economic policy, resorting to regular currency devaluations, expropriations of private firms and inflation-busting public-sector pay rises rather than tackling the economy’s underlying structural problems. This fire-fighting approach continued even as Mr Chavez lingered on his Cuban sickbed, with Vice-President Nicolas Maduro implementing a 32% devaluation of the bolivar in February.” The article titled "Hugo Chavez leaves Venezuela in economic muddle" by Robert Plummer, a Business reporter, BBC News continues in part as follows: “The impact for the region It certainly doesn’t seem hard to uncover evidence of waste in government expenditure during the Chavez years. But the overspending doesn’t stop at home. In an effort to spread the influence of his Bolivarian revolution, Mr Chavez allowed Cuba and other countries in the region to benefit from cheap deals and soft loans under the Alba and Petrocaribe programmes. The next administration will have to decide whether or not to continue funding that extensive network of petro-diplomacy. In the meantime, most countries in the Caribbean, already suffering from a decline in tourism because of the global economic downturn, will be hoping that Venezuela’s economic lifeline is not about to disappear.” Another issue which is concerning in the Dominican context is whether or not the Dominicans who have been given houses, have also been given titles of ownership to these houses or properties. I say this because Mr. Maduro has said that when Mr. Chavez handed over more than 200,000 homes to the poor for free, that he did not intend for them to be fully and completely paid for by the Venezuelan government. He is now calling for those persons who received homes, to now pay towards those homes. Many are now in a state of fear as they were under the impression that these homes were completely free and are now fearful that they will be unable to pay the required amounts. None of them apparently received certificates of title for legal ownership of those properties which they were given keys to and which they subsequently occupied.
Posted on: Sun, 11 Aug 2013 22:01:03 +0000
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