Venezuela less influential in LatAm, says Oppenheimer

Andres Oppenheimer: Venezuela losing clout in region.

Here’s why:

In Central America and the Caribbean, Petrocaribe — the Venezuelan institution that provides subsidized oil to friendly countries — has raised from 50 percent to 60 percent the cash payments it demands from member countries and is also raising interest rates on their long-term oil debts.

In early November, Guatemala announced its withdrawal from Petrocaribe, saying that the new payment conditions were no longer attractive.

Not enough money to buy the love.

UPDATE:
Related: Voodoo economics in Cubazuela: Maduro’s Mojo kicks into high gear

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2 Responses to “Venezuela less influential in LatAm, says Oppenheimer”

  1. Old Timer Says:

    There is an article in Globe and Mail that beginning in 2014 Nicaragua will have to come up with $30 million a month for money transfers to the poor that Venezuela had been providing. Where is Ortega going to come up with the money? They mentioned the oil refinery in Nicaragua. I thought that project was dead.

  2. Fausta Says:

    I thought that project was dead
    As far as I can tell, it is, OT.