Venezuela needs a 'major social agreement' to adjust its economy and overcome the current and persistent political conflicts in the country, said Ernesto Samper, chairman of Unasur (Union of South American Nations) during a visit to Brasilia.
Venezuela recalled its ambassador to Spain to protest interventionist declarations made by Spanish Prime Minister Mariano Rajoy, the Venezuelan News Agency (AVN) said on Tuesday.
Venezuela's Finance Minister Rodolfo Marco said on Tuesday that the Mercosur member was fully prepared to cope with price volatility on the global oil market and would honor a 3 billion dollar bond payment due next week.
The global oil market slump looks likely to continue, with prices possibly nearing 70 dollars a barrel in the short term, an official of Russian gas producer Gazprom said. Crude fell more than on dollar a barrel on Thursday to a four-year low below 83 a barrel as growing concerns over the global economy stretched a four-month rout.
Venezuela celebrated on Thursday as a great diplomatic success and a victory of Hugo Chavez, having been voted by the UN General Assembly to join the Security Council for two years as a non permanent member.
Venezuela will almost certainly default on its foreign debt, according to Harvard economists Carmen Reinhart and Kenneth Rogoff. They add that the beleaguered Latin American economy has already defaulted on every conceivable kind of domestic debt.
Colombian guerrilla leader Rodrigo Londoño has made secret government-authorized trips to Cuba several times in the last year to meet with his team of negotiators as part of peace talks to end 50 years of civil war, Colombian officials said.
The United Nations adopted a resolution Wednesday decreeing the Venezuelan government should immediately release Leopoldo Lopez, the opposition leader who has been imprisoned for almost nine months in connection to the violent protests in Caracas in February.
A World Bank arbitration tribunal has determined Venezuela must pay ExxonMobil Corp. around 1.6 billion dollars to compensate for a 2007 nationalization, the award posted on the ICSID website on Thursday showed.
Argentine ambassador in the United Kingdom, Alicia Castro has fiercely criticized the conduct of holdout investors and thanked UK unions for their support in the dispute with 'vulture funds', during an address to the British umbrella trade union UNITE.