As Venezuela Declines, So Does Its Latin American Influence

27 Apr 2017   Venezuela

A document circulating in Peru, part of a broad political corruption investigation, stands as a quaint piece of Hugo Chávez memorabilia. It’s a 2006 letter allegedly penned by the late socialist Venezuelan president to one of his regional comrades, Peruvian presidential candidate Ollanta Humala. It suggests Chávez gave Humala’s campaign $2 million in what the letter calls “revolutionary aid.” Humala, who became Peru’s president in 2011 and left office last year, denies taking cash from Chávez. But the letter recalls something larger: a time when Venezuela wielded clout. A decade ago, as crude prices soared above $100 a barrel, the South American nation with the world’s largest oil reserves was a petro sugar daddy. The firebrand Chávez cast his largesse from the Bahamas to Buenos Aires, buying influence for his left-wing, anti-U.S. revolution. Venezuela used to be sugar daddy to the region’s leftists. Now it can’t feed itself. Chávez […]

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