Nations Benefiting from Chavez Programs Join Chorus of Eulogy By Tim Johnson and Vinod Sreeharsha

Posted on Thursday, 7th March 2013 @ 08:00 PM by Text Size A | A | A

Spread the love

MEXICO CITY — Like planets gone slightly wobbly in orbit, a string of Western Hemisphere nations fretted openly Wednesday about the death of Venezuela’s Hugo Chavez, whose skein of relationships went far beyond rhetorical support to include major financial benefits.

Recognizing how much they owed Chavez — often quite literally — nations across the region declared at least a day of mourning for the fiery Venezuelan leader. Cuba declared two days. Argentina, Brazil and the Dominican Republic declared three.

Some 17 countries gained benefits under Chavez’s Petrocaribe program, under which Venezuela sent about 10 percent of its crude oil production to member states under generous terms.

It permitted them to repay partially in goods or services — sugar, beans, rice — rather than in cash. Many now wonder about the program’s future.

A handful of Latin leaders thrived under Chavez’s large ideological umbrella — in Bolivia, Ecuador and Nicaragua — but even larger nations such as Argentina and Brazil felt his gravitational pull on their economies. Flowery tributes flowed in.

“Wherever you are, dear Hugo, our promise now more than ever is to take no step backward to fulfill your dreams,” Ecuadorean President Rafael Correa said.

“Long live Chavez!” Nicaraguan President Daniel Ortega shouted at a rally in Managua, a huge portrait of Chavez behind him. Chavez gave an estimated $2.6 billion to Nicaragua over the past six years. At least some of that went directly to Ortega and his ruling party and made Ortega, who began his political career a die-hard socialist, into one of his country’s wealthiest men.

Venezuela sent more than 240,000 barrels a day of crude last year to Petrocaribe member states. Crude oil production is controlled by the state oil company, Petroleos de Venezuela S.A.

Under the largess of the Petrocaribe program, member nations pay only 5 to 50 percent upfront for the oil. After a grace period of one to two years, they pay the balance over terms of 17 to 25 years, at a 1 percent interest rate.

“It has really saved some Caribbean countries from collapse,” Bryan said.

Dominican Republic President Danilo Medina tweeted that Chavez was “a warm and supportive friend of our country.”

Related News On HuffPo Club

Disqus Comments

Specify a Disqus shortname at Social Comments options page in admin panel

Facebook Comments

G+ Comments

Default Comments

  • Hpub asks

    • Sorry, there are no polls available at the moment.