By: Miguel Angel Hernandez
Date Published: 04/16/2007
Date Published: 04/16/2007
The government, through the Minister of Finance and the President himself, has announced with great fanfare, the payment of the debt with the World Bank IMF, which amounted in 1998 to around 3 billion dollars. Minister Rodrigo Cabezas said in making the announcement now "Venezuela is free and sovereign." Let us see to what extent this is true or not.
What is the origin of Venezuela's foreign debt?
We must remember that the debt was fraudulently contracted by corrupt governments that for 40 years enjoyed the sweetness of power. We need to remember, and know that this illegal debt contracted through the good offices of adecos and copeyanos, and their favored businessmen who then organized the coup of April 2002 and the strike-sabotage of PDVSA. The same people who were beneficiaries of the refinancing best in the world "Lusinchi, by which the government acknowledged the debt of private entrepreneurs at preferential rates, casting the heavy burden on the shoulders of workers and people who have had to pay with our effort and sacrifice that criminal decision. Among the beneficiaries of the refinancing bankers were left with the "twine in the foot" after Caldera granted them the infamous "financial aid".
What has happened in recent years with debt "eternal"?
The current government of President Chavez, has been one of the most accurate and timely external debt has been paid, in Latin America and in the history of debt in our country. Despite being a candidate for president in more than one occasion stated that he would pay and declare a moratorium. Consider the cold data, which speak for themselves.
When President Chavez came to power in 1999, Venezuela's foreign debt was 23.314 million dollars, today, 8 years after the debt "eternal" is 27 thousand 236 million dollars, ie far paid, has increased 3.922 million dollars.
But the issue is more serious if we consider the total dollars paid to the creditor transnational banks in the last 8 years. The Chávez government has paid over this period, an amount similar to the total debt that the country now has (27 billion dollars).
We need a little more the tremendous cost of this for the Venezuelans. From 1999 to 2006, the net transfer of resources to the banking and international financial institutions-belts of imperialism has been the bargain of 16 thousand 980 million dollars, which is approximately 60% of current debt, and yet the debt increased over the first year in office. This transfer is the difference between interest paid and principal repaid. Now let's see, just in interest paid over the same period the amount of 17 thousand 299 million dollars. It's good to be clear that pay no interest on capital debt reduction. That is why you pay, is still paying, and never decreases, however, increases, as we saw previously. Indeed, this debt is "eternal."
Paying the IMF and World Bank set us free?
The government presented as a great achievement to have paid the debt to the World Bank and IMF. First, this represents only a fraction of total debt, but nevertheless had a great cost to the people and workers, which in the end are those who pay, let's see why: from 1999 2006, the government paid only interest the World Bank and the IMF a total of 2 000 $ 30 million, ie a bit less than they owed in 1998 (U.S. $ 3,314 million). This means that the government at the end paid more than what is owed to these agencies that are part of imperialism, both criticized the President in his speeches. Pay these agencies beyond symbolic as it may be, we have not released, and that continues to weigh on the pockets of workers and people pay what is still owed to multinational banks. For example, since the government has to pay this year for the amount of 1,432 million dollars for debt servicing. And just between January and February of this year and paid $ 159 million. We wonder: How many houses could be built with these numbers? How many colleges and schools? How much of this money could be spent to increase wages or to cover the benefits of public employees or oil workers, who have overcome their collective agreements?
pay or not pay, there have
But the question above is not the main problem. The question raised is whether it continues to pay an illegal debt contracted by the corrupt governments of AD and COPEI. A debt that has already been paid several times and yet still growing.
believe that Venezuela is not releasing or more sovereign because you paid more than the IMF and World Bank. Precisely what they want these bodies is to be paid, and our government, unfortunately, he does religiously, and we want to sell it later as a great triumph.
pay debt not only means diverting resources to banks and agencies international financial rather than use them to pay the social debt. Not only is a moral issue insofar as they continue paying illegal and fraudulent debt owed by the governments of the Fourth Republic and coup entrepreneurs enemies of the revolution. It is also an issue that affects the independence and sovereignty against imperialism. Facing
imperialism is by not paying the foreign debt
It would not pay the foreign debt is related to the defense of the country's sovereignty against the constant aggression of imperialism. It is a political problem, not just economically.
debt is an economic mechanism political domination of imperialism and interference in the internal affairs of countries, to the extent that, through pressure and blackmail of the transnational banks and international financial institutions like the World Bank or the IMF, are determined and condition public policies in the economic area, made the nations.
Moreover, the resources that we pay to the international banks are used by imperialism to attack and subdue other peoples. Those billions of dollars paid by our country used to pay the fuel that drives the U.S. war machine in Iraq, Afghanistan and the Middle East, or to invade Haiti.
Hence, we are opposed to paying the debt, but only a part, as was just done with the World Bank and IMF. To that extent, "helping" other countries to repay foreign debt with the IMF, as was the case of Argentina, not to boast or feel "happy", as President Chavez said recently. It simply is cooperating in maintaining ties with these international financial subjugation of imperialism, which gladly receive these resources that will help maintain its hold on people, at the expense of the large social debt that still has so much to our people as to Argentine people.
President Chavez, instead of paying the agencies of imperialism, and "help others to cancel their commitments to these octopuses operators should use its continental leadership to convene a summit of Latin American presidents, especially those that claim" progressive "to declare a debt moratorium joint, and to urge those governments to undertake an audit of debt.
miguelaha2003@yahoo.com
What is the origin of Venezuela's foreign debt?
We must remember that the debt was fraudulently contracted by corrupt governments that for 40 years enjoyed the sweetness of power. We need to remember, and know that this illegal debt contracted through the good offices of adecos and copeyanos, and their favored businessmen who then organized the coup of April 2002 and the strike-sabotage of PDVSA. The same people who were beneficiaries of the refinancing best in the world "Lusinchi, by which the government acknowledged the debt of private entrepreneurs at preferential rates, casting the heavy burden on the shoulders of workers and people who have had to pay with our effort and sacrifice that criminal decision. Among the beneficiaries of the refinancing bankers were left with the "twine in the foot" after Caldera granted them the infamous "financial aid".
What has happened in recent years with debt "eternal"?
The current government of President Chavez, has been one of the most accurate and timely external debt has been paid, in Latin America and in the history of debt in our country. Despite being a candidate for president in more than one occasion stated that he would pay and declare a moratorium. Consider the cold data, which speak for themselves.
When President Chavez came to power in 1999, Venezuela's foreign debt was 23.314 million dollars, today, 8 years after the debt "eternal" is 27 thousand 236 million dollars, ie far paid, has increased 3.922 million dollars.
But the issue is more serious if we consider the total dollars paid to the creditor transnational banks in the last 8 years. The Chávez government has paid over this period, an amount similar to the total debt that the country now has (27 billion dollars).
We need a little more the tremendous cost of this for the Venezuelans. From 1999 to 2006, the net transfer of resources to the banking and international financial institutions-belts of imperialism has been the bargain of 16 thousand 980 million dollars, which is approximately 60% of current debt, and yet the debt increased over the first year in office. This transfer is the difference between interest paid and principal repaid. Now let's see, just in interest paid over the same period the amount of 17 thousand 299 million dollars. It's good to be clear that pay no interest on capital debt reduction. That is why you pay, is still paying, and never decreases, however, increases, as we saw previously. Indeed, this debt is "eternal."
Paying the IMF and World Bank set us free?
The government presented as a great achievement to have paid the debt to the World Bank and IMF. First, this represents only a fraction of total debt, but nevertheless had a great cost to the people and workers, which in the end are those who pay, let's see why: from 1999 2006, the government paid only interest the World Bank and the IMF a total of 2 000 $ 30 million, ie a bit less than they owed in 1998 (U.S. $ 3,314 million). This means that the government at the end paid more than what is owed to these agencies that are part of imperialism, both criticized the President in his speeches. Pay these agencies beyond symbolic as it may be, we have not released, and that continues to weigh on the pockets of workers and people pay what is still owed to multinational banks. For example, since the government has to pay this year for the amount of 1,432 million dollars for debt servicing. And just between January and February of this year and paid $ 159 million. We wonder: How many houses could be built with these numbers? How many colleges and schools? How much of this money could be spent to increase wages or to cover the benefits of public employees or oil workers, who have overcome their collective agreements?
pay or not pay, there have
But the question above is not the main problem. The question raised is whether it continues to pay an illegal debt contracted by the corrupt governments of AD and COPEI. A debt that has already been paid several times and yet still growing.
believe that Venezuela is not releasing or more sovereign because you paid more than the IMF and World Bank. Precisely what they want these bodies is to be paid, and our government, unfortunately, he does religiously, and we want to sell it later as a great triumph.
pay debt not only means diverting resources to banks and agencies international financial rather than use them to pay the social debt. Not only is a moral issue insofar as they continue paying illegal and fraudulent debt owed by the governments of the Fourth Republic and coup entrepreneurs enemies of the revolution. It is also an issue that affects the independence and sovereignty against imperialism. Facing
imperialism is by not paying the foreign debt
It would not pay the foreign debt is related to the defense of the country's sovereignty against the constant aggression of imperialism. It is a political problem, not just economically.
debt is an economic mechanism political domination of imperialism and interference in the internal affairs of countries, to the extent that, through pressure and blackmail of the transnational banks and international financial institutions like the World Bank or the IMF, are determined and condition public policies in the economic area, made the nations.
Moreover, the resources that we pay to the international banks are used by imperialism to attack and subdue other peoples. Those billions of dollars paid by our country used to pay the fuel that drives the U.S. war machine in Iraq, Afghanistan and the Middle East, or to invade Haiti.
Hence, we are opposed to paying the debt, but only a part, as was just done with the World Bank and IMF. To that extent, "helping" other countries to repay foreign debt with the IMF, as was the case of Argentina, not to boast or feel "happy", as President Chavez said recently. It simply is cooperating in maintaining ties with these international financial subjugation of imperialism, which gladly receive these resources that will help maintain its hold on people, at the expense of the large social debt that still has so much to our people as to Argentine people.
President Chavez, instead of paying the agencies of imperialism, and "help others to cancel their commitments to these octopuses operators should use its continental leadership to convene a summit of Latin American presidents, especially those that claim" progressive "to declare a debt moratorium joint, and to urge those governments to undertake an audit of debt.
miguelaha2003@yahoo.com
Source: Aporrea
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