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Weekly Report - 04 December 2014 (WR-14-48)

ECUADOR & VENEZUELA: Budgets re-jigged, flights booked to China

On 29 November, two days after the Organization of the Petroleum Exporting Countries (Opec) failed to cut production quotas in response to the global oil price slump, Ecuador’s President Rafael Correa sent down a 26-page tax reform document to the national assembly marked ‘urgent’.  The same day, Venezuela’s President Nicolás Maduro announced budget cuts starting at 20%.

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