In this week’s roundup… Venezuelan President Hugo Chávez again threatens to pull out of the World Bank’s International Centre for Settlement of Investment Disputes (ICSID); Venezuelan diplomat is expelled from the United States; Chávez’s spending binge may exacerbate an already torrid inflation rate in Venezuela; concerns loom over Chávez’s controversial appointment of General Rangel Silva; and the Catholic Church urges Chávez to get a handle on crime.
Venezuela Weighs Exit From Forum on Disputes, The Wall Street Journal
President Hugo Chávez said Sunday he wouldn’t accept rulings by the World Bank’s tribunal for investment disputes and suggested that his leftist government should exit that global arbitration forum where Venezuela faces billions of dollars in claims. Mr. Chávez’ remarks came as he blasted Exxon Mobil Corp. which is seeking about $7 billion at the World Bank’s International Centre for Settlement of Investment Disputes, or ICSID, for the nationalization in 2007 of its Cerro Negro heavy crude project. Initially, the oil company sought $12 billion in damages, but Venezuelan officials say Exxon has scaled down its claim.
US orders expulsion of Venezuelan diplomat, AFP
The United States has ordered the expulsion of Venezuela’s consul general in Miami amid reports linking the diplomat to an alleged Iranian plot to target sensitive US facilities with cyber attacks, the US State Department said. The US action comes as Iranian President Mahmoud Ahmadinejad was to kick off a Latin American tour in Caracas later on Sunday.
Chavez’s spending could boost inflation for suffering consumers, The Washington Times
President Hugo Chavez’s government is likely to spend heavily this year to rev up the economy during his re-election bid, and that could worsen one of Venezuela’s biggest problems: 27 percent annual inflation that is already close to the highest in the world. Mr. Chavez has started ramping up spending ahead of the October vote, and economists warn that more money injected into the economy will jolt prices. The government predicts 22 percent inflation in 2012, but the investment bank Barclays Capital projects that it could top 36 percent. The incomes of the poor are being squeezed in places such as Winche, a hillside community on the outskirts of Caracas where children play on dirt roads lined with shacks made of wood and corrugated zinc. Some residents say they’re being forced to spend more of their paychecks on groceries because of soaring food prices.
A person was killed every 30 minutes in Venezuela in 2011, El Universal
There were 18,850 homicides in Venezuela in 2011, according to sources of the Scientific, Criminal and Forensic Investigation Agency (Cicpc). This means that a person was killed every thirty minutes. If a murderer were involved in each case , 18.850 gunmen have put 29 million Venezuelans against the wall. If they had used a single bullet for every murder, the criminals would have spent a little more than 18 and a half boxes of bullets, with each box containing 1,000 bullets. And therefore, they would have spent some VEB 226,080 (USD 52,576, at the official exchange rate of VEB 4.30 per US dolar), as each box costs approximately VEB 12,000 (USD 2,790.7). Consequently, each bullet taking one person’s life cost USD 2.70.
Appointments Unsettle State of Venezuelan Politics, The New York Times
Ever since President Hugo Chávez of Venezuela fell ill with cancer last year, intense speculation has focused on his inner circle and who might be groomed as a possible successor. Now, with a lengthy re-election campaign ahead of him, Mr. Chávez has once again upended expectations, scattering some of his closest confidants and promoting some old associates in a way that seems certain to provoke alarm at home and abroad.
Venezuela’s Catholic Church raises concerns over rampant violent crime, urges crackdown, The Washington Post
The leadership of Venezuela’s Roman Catholic Church raised concerns Thursday about rampant violent crime, urging President Hugo Chavez’s government to curb the country’s rising murder rate. “The grave danger is that many crimes go unpunished in Venezuela,” Bishop Diego Padron, president of the Venezuelan Episcopal Conference, said in reading a statement prepared by the organization. The Venezuelan Violence Observatory, a non-governmental group that tracks violent crime, says at least 19,336 Venezuelans were slain during the first 10 months of last year — a 9.8 percent increase from 2010, when 17,600 people were killed.