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Message to INFODIO readers: investigative journalism, which is what this site does, takes lots of time. Visiting media looking for a quick run down on Venezuela's gargantuan corruption, have the decency to at least cite the source when plagiarising this site's content without attribution (exhibit Reuters here and here, exhibit Bloomberg here, exhibit OCCRP here). To all readers, do the right thing, the honest thing: support independent investigative journalism, help us expose rampant corruption. Note added 28/06/2021: impostors are using INFODIO's former editor's full name, and a fake email address (alek.boyd.arregui at gmail.com) to send copyright infringement claims / take down requests to web hosting companies (exhibit Hostgator). The attempt is yet another effort paid by corrupt thugs to erase information about their criminal activities. Infodio.com has no issues with other websites / journalists using / posting information published here, so long as the source is properly cited.
gustavo coronel
The social programs of Hugo Chavez were based on direct transfers of cash and strong subsidies to the Venezuelan poor, in exchange for their political loyalty. As such they were exclusive and designed to obtain maximum political benefits. Poverty, however, is a structural condition that calls for structural solutions. Cash transfers and subsidies represent a fish a day, as compared to the need for empowering the poor to learn how to fish. When the transfers diminish or, even, disappear, the poor revert rapidly to their original condition, this time more despondent than ever.
Rafael Ramirez is the Minister of Energy and Petroleum of Venezuela. For the past 11 years he has also been the President of the state-owned petroleum company, Petróleos de Venezuela (PDVSA). I would like to describe in this article how he led the company into bankruptcy. In so doing he has also generated economic and social chaos in the country, since petroleum is the only source of foreign currency for our nation. It represents 96% of all Venezuelan exports.