Maravi

Humankind is threatened by poverty, says Chavez

Humankind is threatened by poverty, says Chavez
By Larry Moonze
Sunday May 13, 2007 [04:00]

THE rich have refused to understand the need for a poverty-free world, Venezuelan President Hugo Chavez has said. Decorating Nobel Peace prize winner Muhammad Yunus of Bangladesh with the Simon Bolivar Order in Caracas on Friday, President Chavez said humankind was threatened by poverty among other calamities.

"Humankind is threatened by poverty and the destruction of the environment but I wonder why the rich do not understand the need for a poverty-free world," President Chavez said.

He said Venezuela was now marching forward into a people-centred socialism. President Chavez said the Venezuelan socialism was fresh, Bolivarian and democratic. "Only that way can we have a world of justice and peace," President Chavez said.

He asked Venezuelans to reject oligarch-owned media messages aimed at creating anarchy and fear among communities. According to Prensa-Latina, President Chavez accused some radio stations and newspapers run by the oligarchy and some sectors that did not want change in the country of trying to spread panic among citizens.

He said oligarchy-owned media houses were hiding behind freedom of expression to spread fear among Venezuelans. President Chavez further said violence could not be fought with bombs and invasions. "This is crazy, violence generates violence and Iraq is the best example," said President Chavez.

Meanwhile, the Venezuela government has taken control of over nearly 93 per cent of the electricity company stocks. The state-owned PDVSA oil company (Petroleos de Venezuela, S.A.) announced Friday on its website. It stated that after the public auction, the State held 92.98 per cent of total shares in the Distrito Capital first electricity company and that the package includes the American Depository Shares in the Bank of New York, grouping more than 3.6 billion shares. The possession of the electricity company is part of the process of the Venezuelan government's programme to get control over strategic economic sectors.

The total cost of the operation amounts to US$836.93 million. And the Venezuelan government has invited all Latin American countries to join in the laying of the foundation for the Bank of the South.

Venezuelan finance minister Rodrigo Cabezas said signing the foundation agreement to the Bank of the South was earmarked for June 26. Cabezas said the Bank of South would be an irreversible historic event of 2007.

"And we expect other countries to join because South America must meet the challenge of building a new regional financial architecture to free us from financial mechanisms created by developed countries including the International Monetary Fund and the World Bank," Cabezas said. "The Bank of the South will be an instrument that will overcome poverty because there is a commitment to 200 million poor people in the continent."

The project is currently anchored on Venezuela, Ecuador, Brazil, Bolivia, Argentina and Paraguay.

Labels: BANK OF THE SOUTH, HUGO CHAVEZ, MOHAMMED YUNUS, VENEZUELA

posted by MrK @ 8:56 AM