Both leading candidates are claiming victory in Honduras’s disputed presidential election, Democracy Now! The race has pitted Xiomara Castro, wife of ousted President Manuel Zelaya, against right-wing candidate Juan Orlando Hernandez.
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Venezuela’s National Assembly granted President Nicolas Maduro the power to pass laws by decree on economic and anti-corruption issues for a period of 12 months on November 19. The National Assembly held a second and final vote on a proposal from Maduro to enact the so-called enabling law, which allows him to legislate by decree on specific issues for the period set by the assembly. Maduro has been empowered to pass laws to “fight corruption, usury, money laundering and the economic war unleashed in recent times against the country by the national oligarchy”.
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For more than a decade, people opposed to Venezuela's left-wing government have argued that its economy would implode. Like communists in the 1930s rooting for the final crisis of capitalism, they saw economic collapse just around the corner. How frustrating it has been for them to witness only two recessions: one directly caused by the opposition's oil strike (December 2002-May 2003) and one brought on by the world recession (2009 and the first half of 2010).
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The Venezuelan government is planning to implement profit limits across the economy as part of a crackdown on overpricing, Venezuela Analysis said on November 18. The plan is in response to revelations of mass price speculation by retailers earlier this month. Some companies were found to be taking advantage of cheap imports at the government’s official exchange rate, then marking up prices and making profits of more than 1000%. -
A new paper from the Washington-based Center for Economic and Policy Research examined Honduras’ economy and found that much of the economic and social progress experienced from 2006–2009, when left-wing president Manuel Zelaya was in power, have been reversed in the years since. Zelaya was overthrown in an elite-backed military coup in June 2009. The coup was condemned by most of the Americas, but not the United States, which refused to cut ties to the coup regime. -
The International Criminal Court (ICC) was established at The Hague in 2002 to investigate and prosecute individuals alleged to have committed war crimes, crimes against humanity and the crime of genocide.
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Venezuelan President Nicolas Maduro has announced a slew of policy reforms aimed at combating speculation and hoarding. New government institutions are also being created to regulate trade and oversee foreign currency exchange. “We have to make real decisions for the benefit of the economy and society, whatever the cost and whatever happens,” Maduro said on November 6. Describing the package of reforms as an “economic offensive”, Maduro pledged to “strike hard” at speculators and hoarders. -
Having virtually all the money in the world often means you can buy silence, you can buy time, and you can buy lies. Chevron has demonstrated this time and again in its decades-long battle to evade accountability for deliberately dumping 18 billion gallons of toxic wastewater into the Ecuadorian Amazon. The problem is that this time, what Chevron has bought is a bag of lies in the form of false testimony from a thoroughly disreputable source, and it isn't able to hide the price tag. -
About 50 people attended a Latin American forum and cultural night at the Spanish Centre in Brisbane on November 2 to hear a panel of speakers discuss various aspects of Latin American politics and history. The forum was co-sponsored by Australian Solidarity with Latin America in Brisbane and the Sydney-based Latin American Social Forum. Talks focused on issues in five countries of the continent: El Salvador, Guatemala, Chile, Colombia and Uruguay. Links to Australia were also highlighted in some presentations.
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Recent mid-term elections in Argentina revealed three key tendencies: a continued decline in support for President Cristina Fernandez de Kirchner and her Peronist-allied Front for Victory (FPV), the reemergence of new forces to its right, and what many have dubbed a “historic” vote for the Trotskyist left. At stake in the October 27 national elections were half of the seats in the Chamber of Deputies and one third of the Senate, along with several elections for state parliaments and local councils. -
The UN General Assembly has voted for the 22nd consecutive year to reject the US embargo, with 188 nations opposed the embargo and three abstentions. Only the US and Israel voted in favour of the continuation of the embargo, which has been in place since 1960. The UN resolution is non-binding. On October 29, Cuba's foreign minister Bruno Rodriguez described the embargo as “extraordinary” and “barbaric”.
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Venezuela's finance minister, Nelson Merentes, presented a draft 2014 budget to the National Assembly on October 22 that devotes more revenue to social services, while predicting continued economic growth and lower inflation. About 62% of the 551 billion bolivars budget (about $92 billion) would be devoted to social services, compared with 37.7% this year.