VIO News Blog

September 29, 2008

Venezuela Has Good Credit, Donates Laptops to Schools

President Chavez was in Portugal last Saturday, where he and Prime Minister Socrates signed deals worth $3 billion on technology, housing, and other issues. The AP reports that Venezuela purchased 1 million low-cost laptops from Portugal for use in schools.

In Russia last Friday, Chavez signed deals to create an oil and gas consortium and purchase $1 billion worth of military equipment. Sources do not report that Venezuela’s military purchases in Russia are partly the consequence of an embargo imposed by the US in 2006. Reuters reports that Russia and Venezuela may also work together on nuclear energy, according to Chavez, “for peaceful purposes, for medical purposes, for purposes of electricity generation.” Sources, however, emphasize the strategic dimensions of this issue, claiming that the move is “anti-US.” Venezuela, though, maintains stable trade relations with North America, and President Chavez has said he looks forward to improved diplomatic relations with a new US administration.

On the economy, Reuters reports that Standard & Poor’s gave Venezuela a good credit rating. According to Reuters, Venezuela has “robust external and fiscal balance sheets, which continue to improve as a result of high and increasing oil revenues.” Meanwhile, IPS reports on the expanding role of Venezuela’s state oil company, PDVSA, in the region.

Finally, voters in Ecuador overwhelmingly approved a new constitution in a national referendum yesterday (seen at right), bolstering the mandate of President Correa. The AFP reports that exit polls showed 65-70 percent approval of the new charter. The Washington Post reports that Correa said, “Today Ecuador has decided on a new nation. The old structures are defeated… This confirms the citizens’ revolution.”

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