Word: hugo
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...Halfway around the world, Venezuela's President Hugo Chávez is confronting a similar predicament. Two years after Chávez won his third term, Venezuela faces a deep recession. The price Caracas gets for its oil has dropped some 70% since July to about $31 a barrel. That has left Chávez with about half the money he budgeted to spend in 2009, and doesn't take into account the millions of dollars Venezuela will lose each month if it abides by recently agreed OPEC production cuts...
...hardly a surprise that he's pulling out of our economy now that he's crashed his own.' LARRY NEAL, of the House Energy and Commerce Committee, blasting Venezuelan President Hugo Chávez for bringing his rich-vs.-poor politics...
...different because, unlike Europe or Japan, it is a rapidly aging but poor country. Plus, unlike China, which is about to age rapidly as well, Cuba lacks a reliable economic growth path of its own that would not depend on external subsidies, which in recent years have come from Hugo Chávez’s Venezuela...
Four years ago, Hugo Chávez scored one of the more impressive p.r. coups of the new century when he started delivering free heating oil to low-income Americans. Even if it was political opportunism, as conservative critics insisted, it got home-heating fuel to hundreds of thousands of yanquis during the past four winters, when the price was often skyrocketing. On Monday, however, with world oil prices plunging, the Venezuelan President decided to suspend his large-scale, multistate U.S. program in order to tend to financial concerns at home. Then on Wednesday, at the urging of U.S. politicians...
...most acclaimed capitalist leader. Capitalism's excesses get deservedly excoriated for causing today's global catastrophe. But even Venezuela, which helps prop up Cuba's economy with cut-rate oil, has made it clear in recent elections that it's not the socialist hotbed that its left-wing President Hugo Chávez dreams of. Yes, the hypocritical drill among Latin leaders is that they censure Washington publicly but Havana privately. Still, most of them believe Cuba is as out of step with the rest of the Americas...