Weekly Report - 29 November 2007 (ISSN 1741-7422)

The Honduran government conceded last week that the preferential terms provided to Caribbean countries under Venezuela's Petrocaribe initiative are just too generous to refuse as it wrestles with the crisis over high fuel prices. After a special cabinet meeting, President Manuel Zelaya signed a decree authorising the minister of the presidency, Yani Rosenthal, to start negotiations with the Venezuelan energy ministry to subscribe to the scheme, with the aim of importing up to US$750m of crude over the next two years. 

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