Posts Tagged ‘Petrocaribe’

Venezuela less influential in LatAm, says Oppenheimer

Sunday, December 1st, 2013

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.

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