Venezuela’s Chavez Runs Up Debt Shunting Oil Wealth to the Poor 16 June 2005 | Bloomberg Venezuelan housewife Sabrina Munoz saves as much as a third on the price of flour, meat and beans by shopping at Mercal, a government-owned supermarket near her Caracas home overlooked by hillside shanties. She thanks President Hugo Chávez. “Mercal is an example of the good Chavez does,” says Munoz, 50, a mother of four. “He’s such a humanitarian.” Backed by a quadrupling of oil prices since he took office in early 1999, Chavez, 50, has boosted spending on food subsidies, education and health care […]
Daily Archives: June 20, 2005
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