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Weekly Report - 14 May 2009 (WR-09-19)

VENEZUELA: Chávez designs new strategy

Even by the standards of President Hugo Chávez , last weekend's Aló Presidente broadcast was exceptional for the sheer number of issues broached, all of which spawned myriad column inches. Chávez threatened to leave the Organization of American States (OAS) and set up his own parallel organisation; to act against media that persisted in “spreading messages of hate"; he confirmed the expropriation of 10,000 hectares of land to increase food production; and announced the impending purchase of Banco de Venezuela from Spain's Banco Santander on 22 May. The most important development, however, was the new strategy he revealed at the tail end of last week to try and combat dwindling oil revenues.

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