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realclearworld

An update about Venezuela and Latin America

We spoke with Fausta Wertz, editor of Fausta's Blog, about the situation in Venezuela.

Fausta published a new post called "The left and reality":

"Lefties firmly believe the deceased Hugo Chavez “improved the economy drastically and ameliorated poverty drastically” because GDP went up, and fewer people were living below the poverty line by the time he died last year.

The numbers are there: GDP did go up, and yes, fewer people were listed as living below the poverty line. Whose numbers?

The numbers came from the Venezuelan government.

The International Monetary Fund keeps a List of IMF Member Countries with Delays in Completion of Article IV Consultations or Mandatory Financial Stability Assessments Over 18 Months.

As of the writing of this post, Venezuela hasn’t held an Article IV consultation with the IMF in 99 months.

Let me translate that into plain English: The Venezuelan government has not allowed its own numbers to be verified for almost a decade."

You can also hear our show with Fausta here:

 

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