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Weekly Report - 09 June 2016 (WR-16-22)
VENEZUELA-REGION: Bolivarians turn to gold for salvation
Resource nationalism has been at the centre of Latin America’s radical left-wing Bolivarian Revolution, with Hugo Chávez in Venezuela, Rafael Correa in Ecuador and Evo Morales in Bolivia, as well as the Kirchners in Argentina, moving to expropriate vast hydrocarbons reserves at a time of historically unprecedented global price highs. Enormous ensuing revenue windfalls perpetuated the so-called ‘people’s revolution’. Having exhausted the oil windfall, left-wing leaders are now turning to the other great gift of ‘Pachamama’ to the region – precious metals – for political salvation. Ironically, this ‘economic diversification’ needs foreign support to get it out of the ground.
- Kuczynski wins Peru’s most nail-biting election
- VENEZUELA-REGION: Bolivarians turn to gold for salvation
- BRAZIL: ‘The circus catches fire’
- CHILE: Bachelet fans further press freedom concerns
- MEXICO: Reborn PAN rolls back PRI hegemony
- GUATEMALA: Congress faces corruption crackdown
- CUBA: Optimism as government legalises small businesses
- ST LUCIA: Opposition UWP back after five-year hiatus
- Argentine government strikes utility tariff deal with governors
- Quotes of the week