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Andean Group - August 2016 (ISSN 1741-4466)

The US$25bn question

President Nicolás Maduro in mid-August announced that Venezuela had agreed new mining deals worth US$4.5bn and, furthermore, that he expected US$20bn in additional deals to be signed in the very near term. He pledged that 60% of the income would go towards the left-wing government’s flagship social projects, known as ‘missions’. Observers were sceptical.

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