Unhappy ending

Article Abstract:

Venezuelan president, Rafael Caldera, has had to impose value-added tax, though he is concerned that such taxes penalize the poor. He is forced to do so due to the government's budget deficit and the drop in value of the currency. Venezuela has been hit by a drop in petroleum prices which has hit government revenue. The government was also reluctant to shed public sector jobs at a time when petroleum prices were high. Privatization has also been carried out slowly. Devaluation of the Venezuelan bolivar would help alleviate the country's economic problems.

Economic Programs, Administration of Economic Programs, Economic policy, Caldera, Rafael

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Switched off: Venezuela

Article Abstract:

Venezuela's slowness in privatizing public utilities resulted in a major power outage and could lead to power rationing in 1998. The government has lacked the political willpower to push forward with privatization, and politicians are more concerned about upcoming elections.

Electric utilities, Privatization, Privatization (Business)

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How not to run an oil company: Petroleos de Venezuela

Article Abstract:

PDV is better managed than most state-owned firms, but its performance is hampered by a government that taxes it heavily and induces its best managers to work as civil servants. Government policies also threaten PDV's five-year investment plan.

Management, Petroleos de Venezuela S.A.

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