After the Venezuelan President Chavez has gained from Parliament the full power in order to achieve his political programme, anybody would have imagined how wonderful 2007 was going to be for the country.

 

Furthermore, 2007 will be also remembered as the year when Venezuela stopped paying debts.
The International Monetary Fund and The World Bank have lost a client.
The Minister of Finance Rodrigo Cabezas in a “fully Chavist-style” confirms: ”Thanks to God, the Venezuelans that will be born from now on, won’t have any cent of debt with the organization leaded by the hawk Americans, and the country has finally regained his sovereignty”.

 

Satisfaction appears through the President Chavez’ words as well: “Venezuela was an indebt and bound country and we have turned it into an important financial centre and a country able to help other countries and other people”. In fact, Venezuela gave a great contribution to help Argentina to settle its own debt as well: “I am very glad that our brothers Argentineans won’t give a cent more to the IMF and the World Bank”, said Chavez.
Venezuela was supposed to extinguish the debt within 2010. Paying 5 years beforehand, the country has saved up 8 million of US Dollars. A new political and historical period has started.
The Minister Cabezas says: “We have been and indebt country since 1989, when the President Carlos Perez was at the leadership. There had been signed political agreements that led to the debts accumulation”.

Banco del Sur. Chavez seems to confirm that there will be the chance for Venezuela to take part in BID (Banco Interamericano de desarollo) and CIF (Corporation Andina de Fomento) projects.
Thanks to the establishment of the Banco do Sur Argentina, Ecuador, Venezuela and Brazil (which is about to formalize its entry into the group), are going to set up a credit institute that would give credit to the countries of the area and would replace the IFM.
The Minister Cabezas said: “We will go our own way and try carrying out the institution the citizenship want for the social development projects. The Banco do Sur is the right financial and professional institute for the preservation of our resources and their utilization for the realization of development projects”.