So you want to know what Chavez’ economic plan is?

October 8, 2009


I had set aside the time for tonight to write about the economic plan. The opposition did not invent it. It was first announced around the beginning of September. Both Merentes and Ali Rodriguez said that it would be announced in a week. But then Chavez went on his Dictator’s tour and everything was postponed.

Chavez was away almost two weeks, came back and said that 40 measures would be announced the week after.

Then, Hugo himself “announced” stuff that was more of “wishful thinking” than measures. I recall these:

1) An employment plan

2) CADIVI would be more efficient

3) Barrio Adentro would be reactivated

4) A bond would be issued (This one was done)

5) The swap rate would be lowered

6) Housing would be built

7) PDVSA would pay its suppliers

But Chavez also said that the number of measures in the “plan” had been upped to 54 from 40.

Then, it was announced that the plan would be announced last night, but we had another postponement. Thus, today after about 38 days, we finally saw the Ministers of the Economy together ready to announce their plan, but in the words of the Minister of Planning:

“Those waiting for a package of measures were left with their guayabera on”

Well, sorry Jorge, I did not even wear one…I don’t even own one, but I do have a wedding at the beach soon, so I will buy one.

But hell, why did they have the press conference , then?

Because all I heard was some false statistics about the US (Giordani did not even get right the population of that country and told us about the millions living in tents there). He also said that 75% of Venezuelans had social security coverage (hello?). And then he went into la-la dreamland about how wealth redistribution has improved (Did he understand the bond?) and how now people don’t take their money out of the country but reinvest it (Hold laughter please). We also heard about the GINI index, loved by Gioradnu and the Government and which has as an input the minimum salary at the official rate of exchange.

Measures on the plan?

-There will be a PDVSA bond before the end of the year.

-They will make a budget for CADIVI (after 5 years of  controls, I can only say about time)

The rest was wishful thinking and predictions for  next year’s economy and excuses for inflation.

That’s it!

There are 45 measures to go, but they may never happen at the rate we are going…but they are laughing…

8 Responses to “So you want to know what Chavez’ economic plan is?”

  1. Kepler Says:

    Qué vaina América Latina
    Ahora los bolivianos quieren tener su “propio” satélite, como los venezolanos.
    We really seem to be behaving like the Indians who gave gold to the Spaniards for some pieces of broken glass.
    Now we are giving dollars to the Asians.

  2. Roger Says:

    All these years while about all Chavez has done is talk about what he will do someday. An economist by the name of DeSoto has been doing it one Indian at a time in Peru. (also in Spanish) . PBS ran a show Friday about him and his program.

  3. gomezcal Says:

    Even their own embellished statistics give them the lie. According to the social security web site ( there are 3,958,446 insured workers and 1,392,436 receive retirement pensions. According to the INE (, the active population was 12,965,967 in August 2009, of whom 11,933,433 were employed. That means the rate of insured workers is 30.52 % of the active population and 33,17 % of those employed.

  4. ErneX Says:

    I was reading the plans until I read:

    “Misión árbol, poryecto dedicado a la reforestación.”

    Their brains must be really swollen right now with all that MIT level of brain activity they had to endure to come up with such a “plan”.

  5. moses Says:

    And in the meanwhile…. the most important highway in Venezuela is collapsing (Km 24) and even the Government supporters are mad at the Government …


  6. island canuck Says:

    Miguel said: “He also said that 75% of Venezuelans had social security coverage (hello?)”

    Didn’t he say 95%? I remember when I read this just how crazy a number it was when you think of the number of self employed & non traditional workers we have in Venezuela, like street vendors, who for sure are not registered with Seguros Social.

  7. deananash Says:

    Slightly off topic, but not by much.

    I just read an interesting article on American politics and since for years I’ve been encouraging the Venezuelan opposition to satirize Chavez, I thought that, with Miguel’s permission, I’d promote the article.

    Here’s an excerpt:

    “Satire helped undermine both Gerald Ford and Jimmy Carter. And as Reagan’s pollster, Richard Wirthlin, put it then: “the danger” of political satire “arises when the humor portrays the president as silly or impotent or portrays what he’s trying to do as irrelevant–when it attacks some of the basic elements of his leadership.”

    “Mocking the powerful is as old as Ben Franklin. A JFK impersonator won a Grammy in 1963 for satirizing the Kennedys. By the late 1970s, SNL became political satire’s defining institution.”

    Chevy Chase made Gerald Ford a klutz. Dana Carvey parodied George Bush as the wimpy, “wouldn’t be prudent” president. Phil Hartman nailed Clinton as the fast food president in his McDonalds skit, cheapening Clinton as a man after the easy pleasures. Just last year, Tina Fey devastated Sarah Palin as a silly, high school cheerleading airhead.”

    You can read the entire article here:

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