|
|
 |
Venezuela Pulls Out Of IMF, World Bank
Venezuela is quitting the IMF and World Bank, President Hugo Chavez announced Monday, AFP reported.
Chavez explained the withdrawal by calling those Washington-based donors a tool of North American imperialism and blaming small nations’ exploitation on them.
We are going to get out, Chavez said, specifying his desire to formalize the exit from the IMF and World Bank. Both of them are in deep crisis, according to Chavez.
The withdrawal rhetoric of Venezuela’s president could be viewed as another stage of his economic reforms. Chavez has nationalized the oil industry of the country. All oil companies of Venezuela, no matter with foreign founders or not, passed under control of the government May 1, 2007.
www.kommersant.com
|
|
|
