International
Trade
Cargo that has arrived at Puerto Cabello
- 150
containers of milk, beef, refined oil and drugs for Corporación de
Alimentos y Suministros Agrícolas (CASA) and Fundación Misión Barrio
Adentro.
Cargo that has arrived at Bolipuertos Maracaibo
- 30,000
tons of soybean cakes from Argentina for Corporación de Abastecimiento y
Servicios Agrícolas (CASA)
- 3 containers bearing electric generators for
state agency Corporación Venezolana de Alimentos (CVAL)
- 4 containers bearing machinery for different
state agencies, including Petróleos de Venezuela S.A (PDVSA), BARIVEN;
AGROPATRIA and Corporación de Abastecimiento y Suministros Agrícolas
(CASA).
- 18 containers bearing 2,400 tires for state
agency Suministros Venezolanos Industriales C.A. (SUVINCA)
- 24 motorboats from the US for state oil company
Petróleos de Venezuela (PDVSA)
Government reports Venezuela’s non-petroleum exports hit
US$ 4.2 billion
Venezuela’s non-petroleum exports total US$ 4.2
billion so far this year, with the figure expected to rise on year-end sales,
the official AVN news agency reported. “We’re
expecting a large amount of exports for the end of the year, as is normal in
terms of trade in any nation. We believe we’re going to have very new (sic)
export figures this year,” says Trade Minister Isabel Delgado, who claims non-petroleum
exports cover products manufactured “by
productive units of the state,” but also those produced by “small- and mid-sized private industries”
that sell cocoa, flowers, medicines, shrimp and chocolate. (Latin American
Herald Tribune, http://www.laht.com/article.asp?ArticleId=2397590&CategoryId=10717;
El Universal, http://www.eluniversal.com/economia/151005/venezuelan-govt-ponders-new-exports-scheme)
Oil &
Energy
Venezuela oil price continues slipping
After bouncing up US$ 6.50 in the first week of
September, Venezuela's weekly oil basket price continued slipping for a fourth
straight week as oil prices around the world moderated in a plentifully
supplied market. According to figures released by the Ministry of Energy and
Petroleum, the average price of Venezuelan crude sold by Petroleos de Venezuela
S.A. (PDVSA) during the week ending October 2 was US$ 40.02, down 49 cents from
the previous week's US$ 40.51. According
to Venezuelan government figures, the average price in 2015 for Venezuela's mix
of heavy and medium crude is now US$ 47.60 for the year. Venezuela's
average oil price for 2014 was US$ 88.42, down from 2013's US$ 98.08, 2012's US$
103.42 and 2011's US$ 101.06, but higher than 2010's US$ 72.43, and much higher
than 2009’s average price of US$ 57.01, which the current average is well
below. (Latin American Herald Tribune, http://www.laht.com/article.asp?ArticleId=2397585&CategoryId=10717;
Veneconomy, http://www.veneconomy.com/site/index.asp?ids=44&idt=45713&idc=4)
PDVSA: Major refinery will be operational again this
week
State-run oil company Petróleos de Venezuela (Pdvsa)
expects to restore operations this week at all the units of the largest
refinery in Venezuela, the Paraguaná Refining Compound (CRP), which was hit by
a massive blackout last week.
Pdvsa said last Thursday it had started "gradual reactivation" of the refining complex, after a power failure hit the major refineries in the compound: Amuay and Cardón, with a capacity to process about 955,000 barrels per day. (El Universal: http://www.eluniversal.com/nacional-y-politica/151005/pdvsa-major-refinery-will-be-operational-again-next-wednesday-thursday; Veneconomy, http://www.veneconomy.com/site/index.asp?ids=44&idt=45700&idc=4)
Pdvsa said last Thursday it had started "gradual reactivation" of the refining complex, after a power failure hit the major refineries in the compound: Amuay and Cardón, with a capacity to process about 955,000 barrels per day. (El Universal: http://www.eluniversal.com/nacional-y-politica/151005/pdvsa-major-refinery-will-be-operational-again-next-wednesday-thursday; Veneconomy, http://www.veneconomy.com/site/index.asp?ids=44&idt=45700&idc=4)
Commodities
Tuna and sardines are
simply not there
The can of tuna, formerly a fairly normal
pantry staple, has long been missing from stores in Venezuela, especially the
domestic brands. When tuna cans, imported or domestic, do occasionally show up
on store shelves, prices have increased several fold. This also extends to
other seafood products like sardines, formerly a popular item for people with
low incomes. In 1998 industrial and artisanal (small scale) capture produced
513,585 tons of fish, covering the domestic market. This trend continued until
2004 (597,148 tons). But since 2005 production has gone into a downturn,
falling to 226,591 tons in 2014. Production has contracted by nearly 60%. (El
Universal, http://www.eluniversal.com/economia/151003/tuna-and-sardines-are-simply-not-there)
Economy
& Finance
Venezuelan government filed an incomplete
report with the SEC
The annual report filed by the Venezuelan
government before the US Security Exchange Commission (SEC) did not include the
definite figures on the country’s economic behavior in 2014. It only provided
information up to the third quarter when the gross domestic product (GDP)
posted a 4% drop in nine months. Allegedly, following direct orders from
Nicolás Maduro, the Venezuelan Central Bank (BCV) was banned from publishing
figures since the end of last year. (Veneconomy, http://www.veneconomy.com/site/index.asp?ids=44&idt=45698&idc=2;
and more in Spanish: (El Nacional; http://www.el-nacional.com/)
ECLAC forecasts 6.7%
downturn in Venezuela
The Economic Commission for Latin America and
the Caribbean (ECLAC) released a report including corrected growth projections
showing a downward trend compared to estimates presented in July. According to
the commission, the region will grow only 0.5% on average in 2015, mostly due
to deceleration in South America. It estimates Venezuela's contraction next
year at close to 7%. "Growth
projections indicate that South American economies -specialized in the
production of primary goods, especially oil and minerals- and with a growing
level of trade integration with China, will register the biggest deceleration,"
ECLAC pointed out. (El
Universal, http://www.eluniversal.com/economia/151005/eclac-forecasts-67-downturn-in-venezuela; and more in Spanish: (El
Mundo, http://www.elmundo.com.ve/noticias/economia/politicas-publicas/cepal-estima-que-economia-venezolana-caera-6-7--es.aspx#ixzz3nmVxxGoE;
El Nacional; http://www.el-nacional.com/)
CENCOEX has paid out 35% of the dollars allocated in the bid held for the transport
sector, says Surface Transport and Public Works Minister José Luis Bernardo.
The auction was called last June 15 for US$ 350 million and 239 firms were
allocated dollars. (Veneconomy, http://www.veneconomy.com/site/index.asp?ids=44&idt=45709&idc=2)
Politics and
International Affairs
Venezuela’s legislative elections: Muddled, yet united
Some of its leaders are in jail. Others are banned
from running for office. All are up against an autocratic government with
formidable resources. Yet in legislative elections scheduled for December 6th,
Venezuela’s opposition has its best chance of winning a national victory since
1998. Recent polls find that 70% of respondents expressing a preference will
vote for opponents of the Socialist government led by Nicolás Maduro. The
prospective winner, the Democratic Unity (MUD) alliance houses ideologies from
Marxism to free-market conservatism, united only by a shared loathing of the
government. Its electoral program consists primarily of the incontestable, but
deliberately vague, proposition that Venezuela “wants change”. The alliance has demonstrated impressive flexibility
and stoic discipline in the lead-up to the election. It has persuaded its
members to bury their differences and field a single opposition candidate for
each seat. It has yet to offer a manifesto for reform of Venezuela’s
dysfunctional economy or hollowed-out state institutions, and its candidates
defend their lack of concrete proposals by stressing that they are battling a
system. Luis Vicente León, a pollster, believes that losing the National
Assembly—even by a single seat—would devastate the Socialists by shattering
their illusion of invincibility. But thanks to Venezuela’s complex
semi-proportional electoral system, compounded by flagrant gerrymandering under
both Chávez and Maduro, the MUD will need far more than a simple majority of
votes to win control. Nonetheless, if the polls hold up and prove accurate, then
in the absence of any electoral fraud the alliance’s current lead of over 20%
should prove sufficient. Even without the two-thirds minimum for constitutional
changes, a majority could enable the opposition to schedule a recall referendum
against Maduro next year. Optimists hope that losing the legislature will lead
moderate chavistas to oust the president and start cleaning up the mess that
their movement’s namesake left behind. But that would require Maduro’s exit,
and no one knows how far he will go to prevent a MUD victory. A last-ditch
tactic might be to delay the vote, under the pretext of a manufactured crisis
like Venezuela’s border disputes with Colombia or Guyana. Even if the coalition
does prevail, it could take street protests and foreign pressure to make Maduro
relent. (The Economist, http://www.economist.com/news/americas/21669929-voters-are-eager-end-chavismo-can-disciplined-diverse-opposition-coalition?frsc=dg%7Ca)
Venezuela hits back at U.S. for questioning its
democracy
Venezuela's foreign minister has blasted her U.S.
counterpart John Kerry for questioning the country's democratic credentials
ahead of legislative elections the ruling socialists are forecast to lose. The
spat follows a nascent rapprochement earlier this year between the two
ideologically-opposed nations. In an interview, Kerry described Venezuela as
"troubled" and said
December's elections would be a "measure
of the type of democracy that exists in the country." Responding on
Twitter, Delcy Rodriguez said Venezuela rejected Kerry's comments. "The electoral register in the United States is
founded on discrimination... Our political system is founded on democracy."
On Sunday, President Nicolas Maduro said President Barack Obama was delaying
consent for his proposed new ambassador in Washington. Maduro also said that
current US diplomats in Caracas "are
worse" than those expelled last June, and "are actively conspiring, like crazy". ((Reuters: http://news.yahoo.com/venezuela-hits-back-u-questioning-democracy-035820758.html;
http://www.reuters.com/article/2015/10/04/us-venezuela-usa-idUSKCN0RY0US20151004;
and more in Spanish: Ultimas Noticias, http://www.ultimasnoticias.com.ve/noticias/actualidad/politica/canciller-rechaza-declaraciones-de-kerry-sobre-dem.aspx#ixzz3nmQnEeQ8; AVN; http://www.avn.info.ve/node/323229)
Colombian and Venezuelan Defense ministers met, border
to remain closed
Colombian and Venezuelan
Defense ministers met in Santa Marta
in Colombia this Friday. After the meeting, Venezuela’s Minister Major General
Vladimir Padrino said Nicolás Maduro could be making new announcements and
Colombia’s Minister Luis Carlos Villegas thanked Venezuelan authorities to let
them know about the measures beforehand. At the same time, Táchira state
governor Lieutenant José Vielma Mora said the border will remain closed until
the Colombian government nullifies its Resolution 08, which allows exchange
houses in the border area. He said only 12 exchange houses are authorized by
Colombia's Central Bank, and another 3,400 operate illegally in the area. (Veneconomy,
http://www.veneconomy.com/site/index.asp?ids=44&idt=45711&idc=1;
and more in Spanish: Ultimas Noticias, http://www.ultimasnoticias.com.ve/noticias/actualidad/politica/frontera-con-colombia-desde-tachira-permanecera-ce.aspx#ixzz3nmS8EefZ)
Venezuela assumed the Presidency of the OAS’ Security
Council to “restructure” the Pan American
institution, claimed Foreign Affairs Minister Delcy Rodríguez in her Twitter
account. The objective is doubtful considering Venezuela’s mandate will last
only three months until next December 31. She also announced Bernardo Álvarez
was appointed Venezuela’s Ambassador to the Organization of American States
(OAS), in place of Roy Chaderton. (Veneconomy, http://www.veneconomy.com/site/index.asp?ids=44&idt=45699&idc=1; http://www.veneconomy.com/site/index.asp?ids=44&idt=45714&idc=1; El
Universal, http://www.eluniversal.com/nacional-y-politica/151005/bernardo-alvarez-appointed-new-venezuelan-representative-to-the-oas)
Venezuela and Guyana appoint ambassadors, restore
relations
The Ministry of Foreign Affairs announced that
Venezuelan ambassador Reyna Arratia would return to Guyana, following
agreements signed between Presidents Nicolás Maduro (Venezuela) and David
Granger (Guyana) in a meeting held on September 27 with United Nations (UN)
Secretary General Ban Ki-moon. Venezuela also authorized Guyana's designated
ambassador to Caracas, whose identity has not been revealed. (El
Universal, http://www.eluniversal.com/nacional-y-politica/151005/venezuela-and-guyana-appoint-ambassadors-restore-relation)
Survey shows Venezuelans believe government is
involved in organized crime
A Venezuelan survey indicates a growing percentage of
Venezuela's population thinks state institutions are carrying out and
facilitating organized crime activities. The joint survey by the Venezuelan
Observatory of Violence (known by its Spanish acronym OVV), the Observatory on
Organized Crime, and the Laboratory on Social Sciences (LACSO) suggests a large
percentage of Venezuelans believe the security forces are involved in arms and
drug trafficking. Polling 3,500
individuals from seven Venezuelan states, the survey found 66% of Venezuelans
believe that the police and military sell weapons to organized crime groups.
Meanwhile, 62% of respondents said they think drug traffickers include
corrupted elements of the military, up from 52% in 2013. Venezuelans are also
likely to believe the government is facilitating organized crime and corruption
in less direct ways. Between 63-72% of respondents said the government's
economic policies have enabled corruption, the black market for currency
exchange, contraband gasoline smuggling, and the smuggling of basic goods to
flourish. The perceived strengthening of
organized crime groups appears to be having a significant impact on citizen
security. 76% of respondents feel more insecure than they did 12 months ago,
while just 6% say they feel safer. Fully half of all the respondents believe it
is "easy" to get someone killed in their neighborhood, up from 35% in
2013. According to the OVV, Venezuela registered a homicide rate of 82 per
100,000 in 2014, the highest murder count since at least 1998. Furthermore, the
survey indicates Venezuelans have few remaining doubts about the active role
state institutions play in the country's underworld. A shadowy network of
corrupt military officials, known as the Cartel of the Suns, is believed to be
deeply involved in international cocaine trafficking. (Insight Crime, http://www.insightcrime.org/news-analysis/venezuela-citizens-believe-govt-involved-in-organized-crime-survey?utm_source=Master+List&utm_campaign=3e9fa08834-10_02_159_30_2015&utm_medium=email&utm_term=0_e90c5425f9-3e9fa08834-206744441)
Pope Francis urges Venezuela's bishops to promote
dialogue
During his third meeting with Venezuelan bishops since
his election, Pope Francis urged them to insist on seeking dialogue between the
regime, the opposition and other social groups, in a move toward
reconciliation. He called it a "pastoral
priority". More in Spanish: (El Universal, http://www.eluniversal.com/nacional-y-politica/151002/papa-pidio-a-los-obispos-venezolanos-fomentar-el-dialogo; El Nacional; http://www.el-nacional.com/)
The following brief is a synthesis of the news
as reported by a variety of media sources. As such, the views and opinions
expressed do not necessarily reflect those of Duarte Vivas & Asociados and
The Selinger Group.
No comments:
Post a Comment