Archive for January 31st, 2005

What’s your favorite Chavez picture?

January 31, 2005

Today, Val Prieto’s Babalu blog got written up in the Miami Herald and is getting tons of visitors, some of which have not been too friendly. Later val posted this picture, which I understand is from Porto Alegre where Chavez has been for the last few days. I blow it up on the right the image on the shirt to leave no doubt that it is that icon of the revolution and hero of the “trasnochados” Che Guevara, who at least was quite gutsy and principled. Now, the image below evokes so many thoughts in my mind that I better just shut up given the new Muzzle Law and ask you, the public, whether this is the top picture, or any of the ones below. If Chavez was trying to prove he is against the FARC, terrorism or guerrilla movements, this picture is not very delicate or diplomatic to say the least. So, which is your favorite and what would be your caption?:

Top: Number 1

Numbers two, three and four

Numbers five, six and seven

Number eight, nine, ten

Number eleven and twelve


New contributions to the contest welcome


Oil warrants discrepancy puts country’s credit at risk

January 31, 2005

The problem of whether Venezuela will or not have to pay over the oil warrants issued in 1990 with the PAR bonds and DCB’s is beginning to percolate the international markets even if some analysts say there is nothing to worry about yet. From today’s El Universal digest on the issue:

-Jan Dehn from Credit Suisse First Boston says he suspects it will be difficult for people to verify the necessary data of whether Venezuelan has to apy or not. “Clearly, given the doubts that surround the levels of production of PDVSA and the generalized lack of transparency, the inherent conflict of interst in the Government’s position undermines its credibility”


-Roger Scher, General Director of Fitch ratings notes that concerns “over the ability of the bureaucracy in the area of debt management and about the systeam that are applied to insure that the correct calculations are made”


-Benito Berber, HSBC: “Any impact on the sovereign credit rating is very low.. Our position is that it is not having an influence on credit right now”


So, will Venezuela be able to issue foreign debt as required by the 2005 budget anytime soon?