Why Venezuela Doesn't Deserve a Seat on the UN Security Council
Why Venezuela Doesn't Deserve a Seat on the UN Security Council
Venezuela's neighbors should hold the country accountable to international norms, writes AS/COA's Christopher Sabatini for U.S. News & World Report.
For Venezuela, hope always springs eternal. And it is always disappointed. This happened most recently with President Nicolás Maduro’s Sept. cabinet reshuffle, which removed one of the few remaining economic moderates, Rafael Ramírez, and replaced him with more ideological party loyalists with scant practical economic experience.
Before the September changes, the whispered hope was that under the sway of the pragmatic Ramírez – who had consolidated his power with three key policy-making positions: head of the state oil company Petróleos de Venezuela S.A. (Petroleum of Venezuela), oil minister and vice president of the economy – the government would rein in public sector spending, devalue its wildly overvalued currency (the bolivar) and cut gasoline subsidies.
With the cabinet changes, however, a much-needed, economic course correction looks increasingly unlikely....
Read the full article in U.S. News & World Report's online opinion section.
