Venezuela devalued its currency for the fifth time in nine years as ailing President Hugo Chavez seeks to narrow a widening fiscal gap and reduce a shortage of dollars in the economy. The new exchange rate falls by 32% to 6.3 Bolivar per dollar starting Feb. 13, Finance Minister Jorge Giordani told reporters in Caracas.
Vice-president Nicolas Maduro, read an eleven page letter he said was written by ailing President Hugo Chavez in which the Venezuelan leader calls for Latinamerican unit, praises Cuba’s chairmanship of CELAC group and takes time to support Argentina’s claims over the Falkland/Malvinas Islands.
Chile confirmed that Paraguay finally decided not to attend the EU/CELAC summit in Chile putting an end to a controversy when it emerged that several Mercosur and Unasur members insisted that the landlocked country should not be invited.
Vice-president Nicolas Maduro said on Thursday that Venezuela is willing to have the ‘best possible relations’ with the US government as long as these are based on respect and equality. He added that it was President Hugo Chavez who instructed the newly named Foreign minister Elias Jaua on the issue.
Uruguay’s economy is poised to grow 4% this year and in 2014, which is above the region’s average, according to the World Bank’s latest Global Economic Prospects issued this week. However Uruguay will be ranked twelfth in the growth ranking of Latinamerica this year but ahead of Brazil and Argentina with 3.4%.
Venezuela President Hugo Chávez has decided to appoint Elías Jaua as the new Minister of Foreign Affairs, announced Venezuelan Vice-President Nicolás Maduro during the Tuesday session at the National Assembly when he submitted the Yearly Report for fiscal year 2012.
Argentine president Cristina Fernandez in her recent visit to Cuba declined to see the ailing Hugo Chavez but surprised her hosts, the Castro brothers, when she revealed having received two letters from the Venezuelan leader which she considered to be his political testament.
United States and other Latinamerican countries wish the situation in Venezuela ‘clears up’, said Roberta S. Jacobson Assistant Secretary of State for Western Hemisphere Affairs, currently in Spain as part of a visit that also includes the UK and Belgium.
Venezuela’s ruling party said on Monday that the ‘high command’ is receiving instructions from President Hugo Chavez in Havana while its grass roots leaders are organizing a massive rally next week which happens to coincide with a similar march on the same day but to protest and organized by the opposition.
According to a report from Reuters, Brazil is urging Venezuela's government to hold elections as quickly as possible if President Hugo Chavez dies, which in that case would help a smoother leadership transition in Caracas.