-On Tuesday the Venezuelan government paid off 70% of a near quarter billion dollar debt it had with the World Bank. However, that payment may be cancelled out by new loans from the World Bank.
-Gasoline company Citgo, which is owned entirely by the Venezuelan government, will stop distributing gasoline to 1800 independently-owned U.S. stations. Meanwhile, Citgo will increase oil exportation to China by 300,000 barrels per day.
-Venezuela and Colombia’s presidents Hugo Chavez and Alvaro Uribe inaugurated a gas pipeline which would help integrate energy projects throughout the region. Venezuela and Colombia agreed to the construction of the pipeline last November.
-“Long live Fidel!” declared president Chavez as he rejected a Bush administration report that accused Venezuela of helping fund Cuba’s desire to open politically. The report was released on Monday and also called for the U.S. government to spend $800 million on anti-Castro groups.
-As a guest to the African Union summit earlier this week in Gambia, President Chavez proposed increased cooperation between Africa, the Caribbean, and Latin America. Such cooperation would be based on energy, education, telecommunications, and finance.
international politics, international economy, gas, hugo chavez, World Bank, bush administration, Venezuela, united states, caribbean
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