After directing criticism at Venezuelan President Nicolas Maduro and urging that Caracas be considered for suspension from the Organization of American States (OAS), Luis Almagro has accused Argentine President Mauricio Macri of impeding those efforts and of reversing his campaign promises of taking a hard line against Maduro.
Brazilian government would like to block Venezuela from taking the rotating presidency of Mercosur later this month, a move to further debilitate Venezuelan president Nicolas Maduro's power, according to Planalto sources close to interim president Michel Temer, who admitted the proposal has yet to be discussed with other members.
Venezuelan President Nicolas Maduro said on Tuesday that Organization of American States chief Luis Almagro had called for foreign “intervention” in his country by invoking the body’s Democratic Charter in response to the political crisis in Venezuela.
The head of the Organization Of American States on Tuesday called for an emergency meeting of regional governments to evaluate Venezuela's respect for democracy, a move that could lead to the country's suspension from the hemispheric body. Luis Almagro said Venezuela had suffered grave alterations of democratic order and called for a vote on the matter in the coming weeks.
The largest airline in Latin America, Latam, (Lan Chile and Braizl's TAM) announced it is suspending its flights to Venezuela because of the worsening economic situation. The suspension came a day after Germany's Lufthansa said it would suspend its services to the country.
Venezuela's government on Saturday extended by two weeks a decree reducing the public sector workweek to Mondays and Tuesdays in a bid to tackle the oil-rich country's electricity crisis. The enforced leave was first announced in late April, a drastic move for a government also grappling with an economic crisis that has Venezuelans queuing for hours to buy scarce supplies.
Paraguay formally requested on Thursday a meeting of Mercosur foreign ministers to address the situation in Venezuela which is undergoing a critical political, social and economic scenario. The request was presented to Uruguay which currently holds the chair of the trade block made up of Argentina, Brazil, Paraguay, Uruguay and Venezuela.
Venezuela, in the midst of a most serious domestic political and economic situation, and with less foreign allies is scheduled to take the chair of Mercosur as of next June for the following six months. However it has been agreed that Uruguay will continue leading Mercosur negotiations with the European Union for a much delayed wide ranging cooperation and trade agreement.
United States tire maker Bridgestone is selling its business in Venezuela after six decades in the country, the latest blue chip company to abandon the country as a result of runaway inflation and strict currency controls. Bridgestone Americas said in a statement Monday that it is selling its Venezuela assets to Grupo Corimon, a local industrialist. It says the company will be called Alice Neumaticos de Venezuela.
Brazil and Argentina will work together to help find a solution to Venezuela's political crisis, Brazil's acting foreign minister said on Monday. Venezuela is facing a severe economic crisis, with the world's highest inflation and shortages. Polls indicate most Venezuelans want President Nicolas Maduro out of office.