New CEPR Report: Bolivia’s Economy under Evo Morales’s Presidency Has Been the Fastest-Growing in South America While Following Heterodox Policies (Report here) By 2018, real GDP per capita had increased by 50 percent above its 2005 level; unemployment was nearly halved. Government revenue from hydrocarbons increased nearly sevenfold, from $731 million to $4.95 billion. Most of the increased revenue resulted from nationalization and associated policy changes, including a doubling of production by 2013.
Pasqualina Curcio: Widely Held Myths about the Venezuelan economy Those in the importing private sector, most of them who really live off of Venezuela’s oil revenues and continue receiving cheap currency, do not say that they would have made all imports from 1970 to 2014 with only $323.5 billion. They do not say either that they in fact received $695 billion. They do not tell us the story about where is the difference that adds up to $371.5 billion. Let’s imagine the quality of our hospitals, schools and colleges; let’s think about the railroad system; scientific and technological development; the powerful pharmaceutical industry; and fully cultivated lands if the $371.5 billion were not accumulating interests in private accounts of those who really live off of oil revenues.
Trump has expanded Obama’s Venezuela Sanctions into a Full Embargo Trump’s Executive Order. 13884 constitutes an embargo as it prohibits transactions with the Venezuelan government. It also threatens secondary sanctions on companies that “materially assisted, sponsored, or provided financial, material, or technological support for, or goods or services” to the government.
Russia to Invest $4 Billion in Venezuela by the End of 2019 Russian and Venezuelan authorities announced a “ten-year cooperation map” aimed at developing productive initiatives in the fields of energy, industrialization and mining.
NicaNotes: Differences between an Attempted Coup D’état and a Popular Civic Insurrection A comparison of the situation in Nicaragua with that in Ecuador. Somewhat overstated but still noteworthy.
Sites to Follow Venezuela, Bolivia, Ecuador: