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During a televised speech on Tuesday, Maduro admitted that some of the PSUV’s policies have been “failures”, and urged supporters to keep “the spirit of socialism intact” in the face of adversity. Maduro said:

The revolution does not have a problem admitting when the experiment of construction a new country — we overcame slavery and capitalism, and we moved onto a new formula. Some formulas have had problems, and some have failed, but we must immediately go at them again, and with the spirit of socialism intact, begin to make all units productive.

Maduro was loosely referring to what he calls the “socialist productive model“, an economic philosophy that critics claim has resulted in widespread scarcity, out-of-control inflation and dwindling foreign reserves.

Maduro continued, saying:

The first model we took on at the cooperative level failed. We have to admit it. We can’t fool ourselves or anyone. It failed, gentlemen, this first step in the construction of a new productive model. Well, now we’re taking our second step and it has to be firm. We have to call on workers, the community, organize the productive model, organize the industries we want to develop really well. Direct and organize all the productive plans, investment, resources, and show that the socialist productive job is better than any other kind.

Granger Defends Guyana’s Stance

Guyanese President David Granger continued to defend Guyana’s stance on the Essequibo feud with Venezuela, saying that a recent Venezuelan announcements are tantamount to “acts of aggression”.

Granger singled out a Venezuelan decree announced in June which created a “Defensive Zone” that is, according to Guyana, part of their national territory. He further explained that recent Venezuelan posturing is a violation of the Geneva Agreement of 1966, which prohibited either nation from acting in any way that would assert their claim to the territory in question.

On the issue of a possibility of armed conflict between the two nations, Granger explained that Guyana has no interest in fighting a country with forty times its population and armed forces twenty times as numerous as theirs. Given these facts, Granger asked:

How could Guyana be the aggressor against Venezuela?

Venezuela To Ask UN For Arbitrator in Guyana Affair

The Venezuelan government is set to ask United Nations Secretary General Ban Ki Moon to appoint an arbitrator to mediate between the Venezuelan and Guyanese government on the Essequibo issue.

Foreign Affairs Minister Delcy Rodriguez made the announcement last night, saying:

We, following the orders of President Nicolas Maduro, hope to once again activate this mechanism in a cordial, practical and legal manner so that we may resolve this historic claim that Venezuela has over the Essequibo.

Rodriguez also assured that Venezuela would “recover the Essequibo peacefully”, and dismissed out of hand the possibility of force:

Our armies, when they crossed beyond our borders, did so to liberate peoples, to win the independence and sovereignty of our brother nations. Our people can rest assured that we will recover the Essequibo peacefully.

FEDECAMARAS: Immediate Action Would Normalize Economy “In 8-12 Months”

Francisco Martinez, a high-level executive at the Federacion de Camaras y Asociaciones de Comercio y Produccion de Venezuela [FEDECAMARAS], the largest private business organization in the country, has given an interview to Globovision in which he said that the Venezuelan economy could become healthy in 8 to 12 months if immediate action is taken.

Martinez called on the national government to “stop playing politics with the economy”, and criticized Maduro for constantly stating that Venezuelan business was actively working towards destroying the Venezuelan economy.

He said that he believes that one of the biggest roots of the problem – specifically that of scarcity – is the multi-tier currency exchange system. Martinez suggested that the exchange scheme as it exists today is “harmful”, and that unifying the different exchange rates and increasing transparency would be positive steps towards rectifying the problem.


Questions/Comments? E-mail me: invenezuelablog@gmail.com

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