Venezuela Prosecutor Rejects Maduro’s Congress Plan as Protesters Set Man on Fire

(THIS ARTICLE IS COURTESY OF THE SAUDI NEWS AGENCY ASHARQ AL-AWSAT)

Venezuela Prosecutor Rejects Maduro’s Congress Plan as Protesters Set Man on Fire

Venezuela

The state prosecutor has rejected embattled Venezuelan President Nicolas Maduro’s plan to establish a congress as the country spiraled further into chaos when a mob set a man on fire.

Chief State Prosecutor Luisa Ortega stunned the crisis-hit country in March when she lambasted the Supreme Court for annulling the powers of the opposition-led National Assembly.

Since then, she has been a wild card within the publicly homogenous Venezuelan government, whose foes accuse it of seeking to dodge elections by creating a parallel assembly with powers to rewrite the constitution.

Socialist Party official Elias Jaua, in charge of the “constituent assembly” project, confirmed on Monday that Ortega had written him to express her discontent in a letter that was previously leaked on social media.

“It is my imperative to explain the reasons for which I have decided not to participate in this activity,” Ortega’s two-page missive reads.

“Instead of bringing stability or generating a climate of peace, I think this will accelerate the crisis,” she said, mentioning it would heighten uncertainty and alter the “unbeatable” constitution launched under late leader Hugo Chavez.

Jaua acknowledged receipt of Ortega’s letter, but quickly said she was merely expressing a “political opinion,” without any power to change the situation.

“We consider that the only organ the Bolivarian Republic of Venezuela’s constitution empowers to interpret the constitution is the Supreme Court’s constitutional chamber,” he said at a news conference, in reference to the pro-government top court.

Venezuelans are scrutinizing Maduro’s government and the armed forces for any cracks as protesters take to the streets daily to demand early elections, humanitarian aid to alleviate food and medicine shortages, and freedom for jailed activists.

While anti-government protests have brought hundreds of thousands to the streets, Venezuelans are increasingly concerned about spates of nighttime looting and barricades popping up in many neighborhoods.

Masked youths man roadblocks, turning back traffic or asking motorists for a monetary “collaboration” to be allowed through.

The worst nighttime unrest has largely been concentrated outside the capital, however, with the jungle and savannah state of Bolivar hard-hit overnight.

Some 51 buses were burned after a group attacked a transport company in the city of Puerto Ordaz, the prosecutor’s office said on Monday. Barricades and clashes with the National Guard were also rippling through the city on Monday, according to a Reuters witness.

One of the most violent scenes was when a crowd set a man on fire.

“I spotted a man running in front of me as a group of protesters, most of them hooded and with makeshift shields, were chasing him,” said Reuters photographer Marco Bello in an area east of Caracas.

“I followed them, and some 100 meters down the street, the protesters caught the man and surrounded him. When I walked up and went through the circle of people to take pictures, someone had already poured gasoline over the man and set him on fire.”

Though Maduro accused the mob of attacking the man, whom he identified as 21-year old Orlando Figuera, because he was pro-government, Bello said they were calling him a thief.

“All I heard throughout was that he was being accused of trying to steal from a woman. I didn’t hear anyone accusing him of being a pro-government infiltrator,” Bello said.

During Venezuela’s economic and political crisis, lynchings have become common, killing about one person every three days according to monitoring group Venezuelan Observatory of Violence.

With flames on his back, the man ran through the crowd, hit a motorbike on the ground, and tore off his shirt. Some people chased him and threw rocks, while others tried to calm the aggressors and formed a protective circle as the fire abated.

The man survived, though with severe burns.

Asharq Al-Awsat English

Asharq Al-Awsat English

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

More PostsTwitterFacebookGoogle PlusYouTube

Venezuela sends 2,000 troops to state hit by looting, protests

(THIS ARTICLE IS COURTESY OF THE REUTERS NEWS AGENCY)

Venezuela sends 2,000 troops to state hit by looting, protests

Workers of the health sector and opposition supporters take part in a protest against President Nicolas Maduro’s government in Caracas, Venezuela May 17, 2017. REUTERS/Marco Bello
By Anggy Polanco | SAN CRISTOBAL, VENEZUELA

Venezuela said it was sending 2,000 soldiers on Wednesday to a border state that is a hotspot of anti-government radicalism after a night of looting in which one 15-year-old died as political unrest rumbled on in the volatile nation.

Most shops and businesses in San Cristobal, capital of Tachira state on the Colombian border, were closed and guarded by soldiers on Wednesday, though looting continued in some poorer sectors, residents said.

People made off with items including coffee, diapers, and cooking oil in a country where a brutal economic crisis has made basic foods and medicine disappear from shelves.

Barricades of trash, car tires, and sand littered the streets, as daily life broke down in the city that was also a hotspot during the 2014 wave of unrest against leftist President Nicolas Maduro.

Hundreds of thousands of people have come onto the streets across Venezuela since early April to demand elections, freedom for jailed activists, foreign aid and autonomy for the opposition-led legislature.

Maduro’s government accuses them of seeking a violent coup and says many of the protesters are no more than “terrorists.” State oil company PDVSA also blamed roadblocks for pockets of gasoline shortages in the country on Wednesday.

In Tachira, teenager Jose Francisco Guerrero was shot dead during the spate of looting, his relatives said.

“My mom sent my brother yesterday to buy flour for dinner and a little while later, we received a call saying he’d been injured by a bullet,” said his sister Maria Contreras, waiting for his body to be brought to a San Cristobal morgue.

The state prosecutor’s office confirmed his death, which would push the death toll in unrest to at least 43, equal to that of the 2014 protests.

’21ST CENTURY JEWS’

With international pressure against Venezuela’s government mounting, the United Nations Security Council turned its attention to the country’s crisis for the first time on Wednesday.

“The intent of this briefing was to make sure everyone is aware of the situation … we’re not looking for Security Council action,” U.S. Ambassador to the United Nations Nikki Haley told reporters after the session.

“The international community needs to say, ‘Respect the human rights of your people or this is going to go in the direction we’ve seen so many others go’ … We have been down this road with Syria, with North Korea, with South Sudan, with Burundi, with Burma.”

Venezuela’s U.N. envoy Rafael Ramirez in turn accused the United States of seeking to topple the Maduro government.

“The U.S. meddling stimulates the action of violent groups in Venezuela,” he said, showing photos of vandalism and violence he said was caused by opposition supporters.

Venezuelans living abroad, many of whom fled the country’s economic chaos, have in recent weeks accosted visiting state officials and their family members.

Maduro on Tuesday likened that harassment to the treatment of Jews under the Nazis.

“We are the new Jews of the 21st century that Hitler pursued,” Maduro said during the cabinet meeting. “We don’t carry the yellow star of David … we carry red hearts that are filled with desire to fight for human dignity. And we are going to defeat them, these 21st century Nazis.”

The German Nazis and their collaborators persecuted and killed six million Jews in the Holocaust during the 1930s and 1940s.

Social media has for weeks buzzed with videos of Venezuelan emigrees in countries from Australia to the United States shouting insults at public officials and in some cases family members in public places.

Maduro’s critics say it is outrageous for officials to spend money on foreign travel when people are struggling to obtain food and children are dying for lack of basic medicines.

But some opposition sympathizers say such mob-like harassment is the wrong way to confront the government.

Graphic on Venezuela’s economic woes: here

(Reporting by Anggy Polanco, additional reporting by Eyanir Chinea, Brian Ellsworth, Girish Gupta and Andrew Cawthorne in Caracas, Julia Symmes Cobb in Bogota and Michelle Nichols at the United Nations in New York; Writing by Girish Gupta and Alexandra Ulmer; Editing by Andrew Cawthorne and Andrew Hay)

Venezuela says it will quit Organization of American States

(THIS ARTICLE IS COURTESY OF THE WASHINGTON POST)

The Americas

Venezuela says it will quit Organization of American States

An opposition activist clashes with riot police during a protest march in Caracas on April 26. (Ronaldo Schemidt/Agence France-Presse via Getty Images)

By Mariana Zuñiga and Nick Miroff April 26 at 7:57 PM

CARACAS, Venezuela — Faced with growing criticism from its neighbors over a slide toward authoritarian rule, Venezuela announced Wednesday it will quit the Organization of American States, the hemisphere’s oldest regional alliance.

The move comes after OAS member states voted Wednesday to convene an emergency meeting of their top diplomats to discuss the worsening humanitarian crisis and deadly political violence that has convulsed Venezuela all month. At least three people were killed in fresh protests Wednesday, including a 20-year-old student struck by a tear gas canister in Caracas.

Speaking on national television Wednesday evening, foreign minister Delcy Rodriguez said President Nicolás Maduro would give formal notice on Thursday of Venezuela’s plans to renounce its OAS membership. During the 24-month period it will take for the country to formally leave, Rodriguez said her government will no longer participate in OAS activities or meetings with other nations she said are trying to “undermine the stability and peace of our country” with the goal of promoting an “invasion.”

OAS general secretary Luis Almagro in recent months has become a fierce critic of Maduro’s, calling him a “dictator” guilty of widespread human rights violations. His concerns are backed by the Washington-based OAS’s largest member states: the United States, Mexico, Brazil, Argentina, Canada, Colombia and several others.

If Venezuela quits OAS, which was founded in 1948, it would join its leftist ally Cuba, whose communist government was expelled in 1962, as the only non-OAS nation in the hemisphere. But Venezuela’s opposition-controlled legislature may attempt to block it, and if Maduro is unseated in elections due to take place late next year, his successor could halt the process.

Opposition supporters attend a rally against Venezuelan President Nicolás Maduro in Caracas as police respond with tear gas. (Christian Veron/Reuters)

Chris Sabatini, a Latin America expert at Columbia University, said Venezuela’s withdrawal risks a major split in OAS if Nicaragua, Bolivia and other Maduro allies follow him in protest.

“At that point, the body that had once represented the hemisphere would be fractured,” Sabatini said, adding that none of the region’s other international organizations has the same institutional heft as the OAS, including the CELAC bloc of states that excludes the United States and Canada.

Venezuela has asked for an emergency CELAC meeting, that, if boycotted by many other Latin America nations, could leave that international body crippled as well, Sabatini noted, saying Venezuela’s decision is a “rejection of long-standing international rules and commitments” that leaves it increasingly isolated.

On Wednesday, thousands of anti-Maduro protesters again seized control of the main highway through Venezuela’s capital, but their march toward government buildings downtown was pushed back by police water cannons and stinging clouds of tear gas.

Although the standoff has played out the same way several times this month, opponents of Maduro insist they will continue to pressure his government through near-daily protests, sit-ins and other acts of civil disobedience.

One 20-year-old protester died after being struck with a gas canister in the city’s upscale Altamira district, authorities said.

As the government lashed out at foreign critics Wednesday, the blocked march underscored the degree to which the country’s political crisis has become a battle of attrition ­between Maduro and his ­re-energized opponents.

Venezuela’s opposition clashes with police

The country’s political crisis intensified after its supreme court curbed the powers of the opposition-controlled legislature, then reversed the rulings days later.

Caracas was crippled for another day as the government shut down subway and bus systems and choked off highway access to the capital in what appeared to be an attempt to limit the size of the protests.

Thousands marched against the government anyway, some ready with gas masks. By calling their supporters into the streets repeatedly, opposition leaders say they want to wear down security forces and push the government to meet their demands: new elections, the release of political prisoners, acceptance of international aid and a return to democratic rule.

Their ability to summon huge crowds also sends a message to Venezuela’s armed forces, said political analyst Margarita López Maya, because Maduro grows increasingly dependent on their loyalty as he weakens. Opposition leaders are appealing directly to Venezuelan soldiers, asking them to defy Maduro’s orders and force the government to give ground.

“By putting thousands and thousands of people in the streets almost every day, they’re trying to keep the cost of supporting Maduro very high for the armed forces,” said López Maya. “And the government is in a slide that looks irreversible.”

[Government opponents appeal to Venezuela’s military as chaos grows]

The unrest has left at least 29 dead this month, according to Venezuelan officials, including protesters, police, government supporters, alleged looters and several others who appeared to be bystanders.

The antigovernment surge was triggered by a perfunctory attempt by pro-Maduro judges last month to incapacitate Venezuela’s legislative branch, which the opposition has controlled since it won a landslide victory in the 2015 elections.

The court mostly reversed the decision, but anger swelled again a few days later when the government barred opposition leader Henrique Capriles from running for office.

Venezuela’s downward spiral has left food and medicine in short supply but anger at the government in abundance. Maduro charges that his enemies are trying to sabotage the oil-rich country’s economic recovery and are paving the way for a foreign invasion.

“They want to fill our country with hate, to push our country into violence,” Maduro said Wednesday. He said he plans to announce “a historic measure” in the coming days but did not elaborate.

Venezuelans Protest Against Dictator Maduro In 4th Week, Protesting Starvation

(THIS ARTICLE IS COURTESY OF REUTERS NEWS AGENCY)

By Brian Ellsworth and Diego Oré | CARACAS

Venezuelans erected barricades with garbage and even bathtubs on Monday and snarled traffic with mass “sit-ins” along major thoroughfares to press their demand for early elections as anti-government protests entered a fourth week.

Ten people have been killed during clashes this month between security forces armed with rubber bullets and tear gas and protesters sometimes throwing rocks and Molotov cocktails.

At least 10 people have also died during night-time looting.

President Nicolas Maduro’s socialist government accuses foes of seeking a violent coup with U.S. connivance, while the opposition says he is a dictator repressing peaceful protest.

The opposition’s main demands are for elections, the release of jailed activists and autonomy for the opposition-led congress. But protests are also fueled by the crippling economic crisis in the oil-rich nation of 30 million people.

“I have an empty stomach because I can’t find food,” said Jeannette Canozo, a 66-year-old homemaker, who said police used rubber bullets against protesters blocking a Caracas avenue with trash and bathtubs in the early morning.

Demonstrators wore the yellow, blue and red colors of Venezuela’s flag and held signs denouncing shortages, inflation and violent crime as they chanted: “This government has fallen!”

In the capital, they streamed from several points onto a major highway, where hundreds of people sat, carrying bags of supplies, playing card games, and shielding themselves from the sun with hats and umbrellas.

In western Tachira, at another of the “sit-ins” planned for all of Venezuela’s 23 states, some played the board-game Ludo in the street, while others played soccer or enjoyed street theater.

At protests in southern Bolivar state, a university professor gave a lecture on politics while some people sat down to play Scrabble and others cooked soup over small fires in the streets.

The demonstrations were largely peaceful by mid-afternoon, although there were some scattered reports of security forces dispersing people with tear gas.

“In the morning they appear peaceful, in the afternoon they turn into terrorists and at night bandits and killers,” senior Socialist Party official Diosdado Cabello said. “Let me tell them straight: we’re not going, Nicolas (Maduro) is not going.”

WORST UNREST IN THREE YEARS

This month’s unrest is Venezuela’s worst since 2014 when 43 people died in months of mayhem sparked by protests against Maduro, the 54-year-old successor to late leftist leader Hugo Chavez.

The latest protests began when the pro-government Supreme Court assumed the powers of the opposition-controlled congress. The court quickly reversed course, but its widely condemned move still galvanized the opposition.

The government’s disqualification from public office of two-time presidential candidate Henrique Capriles, who would be an opposition favorite to replace Maduro, gave further impetus to the demonstrations.

“I’m staying here until 6 p.m. We’re simply warming up because the day will come that we are all coming to the street until this government goes,” said Gladys Avariano, a 62-year-old lawyer, under an umbrella at the Caracas “sit-in.”

More than 1,400 people have been arrested this month over the protests, with 636 still detained as of Monday, according to local rights group Penal Forum.

Facing exhortations from around the world to allow Venezuelans to vote, Maduro has called for local state elections – delayed from last year – to be held soon.

But there is no sign the government will allow the next presidential election, slated for late 2018, to be brought forward as the opposition demands.

Given the country’s economic crisis, with millions short of food, pollsters say the ruling Socialist Party would fare badly in any vote at the moment.

Trying to keep the pressure on Maduro, the opposition is seeking new strategies, such as a silent protest held on Saturday and Monday’s “sit-ins”.

While some small demonstrations have been held in poorer and traditionally pro-government areas, most poor Venezuelans are more preoccupied with putting food on the table.

(Additional reporting by Andreina Aponte, Carlos Garcia Rawlins and Efrain Otero in Caracas, and Anggy Polanco and Carlos Eduardo Ramirez in San Cristobal; Writing by Girish Gupta and Andrew Cawthorne; Editing by Tom Brown and James Dalgleish)

NEXT IN WORLD NEWS

Mother Of All Protest Marches In Venezuela Against President Maduro: Starvation

(THIS ARTICLE IS COURTESY OF NPR NEWS)

Racked by food shortages and political unrest, Venezuela swelled with what organizers are calling the “mother of all protests” on Wednesday. Demonstrators have taken to the streets in the capital, Caracas, and other major cities across the country to rally against the government of President Nicolas Maduro, who assumed office precisely five years ago.

Throughout the day, those rallies often devolved into clashes between demonstrators and security forces — chaotic, violent scenes rent by tear gas, tossed rocks and even two reported deaths.

Citing witnesses in Caracas, Reuters reports that Carlos Moreno, a teenage student who had not planned to join the demonstration, was shot in the head after “government supporters approached an opposition gathering and fired shots.” The news service says he died in the hospital later.

Later in the day a 23-year-old woman named Paola Ramirez was also shot and killed by pro-government groups, according to The Associated Press.

They were not the first to be felled in the course of the anti-Maduro protests that have been mounting since late last month. As of last week, five protesters — including a 13-year-old boy — had died of injuries suffered in fights with riot police.

But the protesters who showed up Wednesday vowed to keep struggling against Maduro and voicing their displeasure with the state of the country.

“This is exhausting — but we won’t give up until we achieve a better country and democracy,” Luiza Mayorca, a lawyer and mother of three, told NPR’s Phil Reeves in Caracas. “Every time we do something, that’s what we feel: that the worst thing would be to stay home, let fear take over us. This government, this regime, is making life miserable, and we cannot accept it.”

Demonstrators clog a Caracas highway on Wednesday, shouting their resistance to President Nicolas Maduro. The president’s push to tighten his power has helped trigger deadly unrest in Venezuela.

Carlos Becerra/AFP/Getty Images

“We want to get out of all this oppression and dictatorship, all the mistreatment we have had — the hunger, the kids dying in the countryside, the poverty,” another protester, an unemployed school teacher named Libertad Diaz, told Phil.

By several media accounts, hundreds of thousands of anti-Maduro demonstrators flooded city streets to protest bread scarcity, ballooning inflation — which several estimates peg at triple digits — and what they see as an increasingly dictatorial regime.

Protesters point to a moment a few weeks ago as proof of Maduro’s ever-tightening grasp on the levers of power, when a Supreme Court loyal to the president attempted to nullify the opposition-dominated legislature. The court backpedaled and restored power to the body after the abortive attempt drew anger both in Venezuela and the international community.

Maduro’s opposition is also demanding new elections, which were indefinitely postponed last year — mere months after Maduro also canceled a recall referendum that could have ousted him from power.

Opposition leader Henrique Capriles, who was banned from public office for 15 years, protects himself against tear gas during a rally against Venezuelan President Nicolas Maduro on Wednesday.

Ronaldo Schemidt/AFP/Getty Images

“What will end the phase in which our country currently finds itself? Allowing free and democratic elections and respecting the constitution, to put a stop to this coup d’état that’s being staged and controlled by Maduro together with the Supreme Court,” Henrique Capriles, a leading figure of the opposition, tells the German broadcaster Deutsche Welle.

Capriles, who Deutsche Welle calls “the opposition’s most promising candidate for the coming elections in 2018,” was banned last week from holding office for 15 years — a move Capriles says he does not recognize.

Maduro, for his part, has rejected the unrest as manufactured by forces outside Venezuela’s borders.

“The US government, the state department, have given the green light, the approval for a coup process to intervene in Venezuela,” Maduro said in a televised address Tuesday, according to The Guardian.

Demonstrators hurl flaming objects at riot police during a rally in Caracas against Venezuelan President Nicolas Maduro on Wednesday.

Ronaldo Schemidt/AFP/Getty Images

In response to Wednesday’s massive protests, which had long been in the works, Al Jazeera reports Maduro ordered the Venezuelan military to march in Caracas in “defense of morality” and “in repudiation of the traitors of the country.”

“From the first reveille, from the first rooster crow, the Bolivarian National Armed Forces will be in the streets … saying, ‘Long live the Bolivarian Revolution,’ ” he announced, referring to the populist “revolution” that brought his predecessor, Hugo Chavez, to power in 1999.

The military presence did little to ease the upheaval, however — or to dissuade protesters like Diaz.

“We’re going to go on struggling,” she said Wednesday, “because the one who tires, loses.”

Benefits of Indian cash overhaul elusive as deadline passes

 

(THIS ARTICLE IS COURTESY OF FOX NEWS)

THE AMERICAS

Benefits of Indian cash overhaul elusive as deadline passes

  • In this Thursday, Dec. 29, 2016 photo, an Indian woman, who had come to deposit money, argues with a bank officer in New Delhi, India. On Nov. 8, India yanked most of its currency bills from circulation without warning, delivering a jolt to the country’s high-performing economy and leaving countless citizens scrambling for cash. Still, as Friday’s deadline for depositing old 500- and 1,000-rupee notes draws to a close, Prime Minister Narendra Modi’s government has called the demonetization drive a great success in drawing out tax dodgers and eliminating graft. (AP Photo/Altaf Qadri)

    In this Thursday, Dec. 29, 2016 photo, an Indian woman, who had come to deposit money, argues with a bank officer in New Delhi, India. On Nov. 8, India yanked most of its currency bills from circulation without warning, delivering a jolt to the country’s high-performing economy and leaving countless citizens scrambling for cash. Still, as Friday’s deadline for depositing old 500- and 1,000-rupee notes draws to a close, Prime Minister Narendra Modi’s government has called the demonetization drive a great success in drawing out tax dodgers and eliminating graft. (AP Photo/Altaf Qadri)  (The Associated Press)

Fifty days ago, India yanked most of its currency from circulation without warning, jolting the economy and leaving most citizens scrambling for cash. As the deadline for exchanging the devalued 500- and 1,000-rupee notes for new ones hits Friday, many Indians are still stuck waiting in long bank lines.

Empty ATMs and ever-changing rules are preventing people from withdrawing money, and many small, cash-reliant businesses from cinemas to neighborhood grocery stores are suffering huge losses or going under.

Despite those problems, Prime Minister Narendra Modi says his Nov. 8 demonetization decree has succeeded in uncovering tax evasion and cracking down on graft. The Indian government is urging patience, insisting it’s playing a long game that will eventually modernize Indian society and benefit the poor.

So far, despite the widespread inconvenience and costs, most of the country’s 1.25 billion citizens appear to be taking Modi’s word for it.

Here are a few things to know about India’s massive cash overhaul:

___

HARDSHIP FOR THE POOR

Modi’s announcement that 500 and 1,000 rupee bills — making up 86 percent of India’s currency — were no longer legal tender has posed an enormous hardship for millions of people who use cash for everything from salaries to cellphone charges.

Almost immediately, serpentine lines appeared at banks and ATMs as people waited hours to deposit or exchange old currency notes for new bills. Since authorities only began printing the new bills after the policy was announced, demand vastly exceeds supply and cash machines often run dry. Daily commerce in essentials including food, medicine and transportation screeched almost to a halt.

Worst affected were the country’s hundreds of millions of farmers, produce vendors, small shop owners and daily-wage laborers who usually are paid in cash at the end of a day’s work. Many lost their jobs as small businesses shut down, compounding their poverty.

Pankaj Aggarwal, owner of a clothing shop in the Old Delhi neighborhood of Chandni Chowk says his sales crashed by 70 percent.

“You can imagine what our business is like now. It will be some time before our sales normalize,” he said.

Modi appears to have succeeded in promoting the cash overhaul as a “pro-poor” policy, tapping into deep anger among the have-nots toward wealthy elites.

“The first two months have been so bad for us, we don’t even have enough money to buy food,” said daily wage laborer Neeraj Mishra, 35. “Overall, I think Modi has done some good. People with a lot of money are the ones who have been troubled. I don’t have enough cash for it to bother me much.”

Political scientist Sreeram Chaulia, dean of the Jindal School of International Affairs in New Delhi, describes the strategy as “classic populism.”

“Some people are outraged, but are hesitant to come out and say it because they don’t want to be branded as anti-national or self-centered,” he said.

___

A BRUISED ECONOMY

The wide impact of the demonetization won’t be known until the government issues its next quarterly GDP figures in February, but the Reserve Bank of India already has shaved half a percent from this year’s GDP growth forecast, to 7.1 percent.

Since domestic commerce drives most economic activity, analysts have expressed alarm over the scale of economic and social disruption and are warning a contraction is likely in coming quarters.

“The countless unpredictable consequences that will continue to show in the coming weeks and months mean that it is, in effect, a huge gamble,” said Jan Zalewski, an Asia expert with the Britain-based risk assessment firm Verisk Maplecroft. “Inflicting such huge costs for what is an uncertain outcome is problematic.”

Real estate, tourism, transportation and gold and gems have been hit the hardest, along with informal sectors that rely mostly on cash.

Prices are forecast to rise since the cash crunch is pinching supplies of all sorts of goods.

The country’s banks, however, are seeing banner business. The central bank said old notes worth 13 trillion rupees ($191 billion) had been deposited as of Dec. 10, with many more expected by Friday’s deadline.

That should improve bank liquidity and in turn encourage more lending to boost economic growth.

___

MIXED MESSAGES, CHAOTIC RULES

The Finance Ministry and central bank have issued at least 60 different directives, some of them contradictory, about such issues as how much money can be withdrawn from bank accounts and which documents are needed for depositing old cash. The mixed messages have compounded the overall chaos and shaken investors’ confidence.

“There appears to be less trust in many institutions, including the Reserve Bank and other banks. That is one important behavioral change that has been ushered in,” said Mihir Sharma, senior fellow at the Observer Research Foundation, a New Delhi based think tank.

Financial experts are baffled about how to evaluate the move.

“One of the major problems with the demonetization move is that success is so difficult to measure,” Zalewski said. “In and of itself, it can’t end black money, stop terrorism funding and the counterfeiting of notes.”

___

NEW BILLS, OLD HABITS

The idea that swapping old currency notes for new ones would wipe out tax evasion has already been proven naive. Over the last seven weeks, Indian income tax authorities uncovered more than 32 billion rupees ($477 million) in undeclared wealth held in new notes, foreign currency, gold and other commodities.

The Finance Ministry found enormous stashes of new currency bills secreted away by corrupt bank managers. Axis Bank’s CEO Shikha Sharma said she was “embarrassed and upset” after it was found managers at the bank had used the stolen funds to fake accounts and launder customers’ untaxed savings for a premium.

___

A GLOBAL TREND?

A month after Modi scrapped the high-denomination notes, Venezuela’s president announced that the 100-bolivar notes that account for more than three-quarters of the country’s cash would be taken out of circulation.

Skyrocketing inflation had taken the value of the Venezuelan notes to 2 U.S. cents from 10 cents in the past year.

But while India’s cash overhaul has been relatively peaceful, Venezuela’s was not.

When no new bolivar notes appeared to replace the old ones, riots and looting erupted in towns across Venezuela, whose economy was already in shambles. Hundreds of grocery stores were damaged or destroyed. Ultimately, the government extended use of the old 100-bolivar notes until Jan. 2.

Venezuelan President Nicolas Maduro declared the abrupt cash overhaul an economic triumph, claiming people were racing to deposit the old notes into banks. He did not say how much was deposited.

In Pakistan, opposition lawmakers passed a resolution last week calling for the withdrawal of the country’s highest-denomination note from circulation. The government rejected that move, saying there was no need to discontinue the country’s 5,000-rupee note, worth about $48.

“The very notion of cancellation of such convenience in transactions is preposterous and unequivocally denied,” the Finance Ministry said in a statement.

___

Associated Press writers Fabiola Sanchez in Caracas and Munir Ahmed in Islamabad contributed to this report.

___

Follow Katy Daigle and Nirmala George at http://www.twitter.com/katydaigle and http://www.twitter.com/NirmalaGeorge1

Venezuela: Does An Incompetent Tyrant Ever Willingly Give Up The Presidency?

(THIS ARTICLE IS COURTESY OF REUTERS NEWS AGENCY)

In escalation of crisis, Venezuela congress to put Maduro on trial

Venezuela’s opposition-led National Assembly on Sunday vowed to put Nicolas Maduro on trial for violating democracy, days after authorities nixed a recall referendum against the unpopular socialist president.

The measure is unlikely to get traction given the leftist government and a compliant Supreme Court have systematically undermined the legislature, but it further heightens tensions in the crisis-hit OPEC nation.

“It is a political and legal trial against President Nicolas Maduro to see what responsibility he has in the constitutional rupture that has broken democracy, human rights, and the future of the country,” said opposition lawmaker Julio Borges during a special congressional session on Sunday.

The opposition coalition, seeking to end 17 years of socialism in the South American nation, says Thursday’s suspension of its drive for a plebiscite against Maduro shows Venezuela has abandoned democracy.

Ruling party officials have accused the opposition of fraud in their signature drive and say the coalition is seeking a coup to gain control of Venezuela’s vast crude reserves, the world’s largest.

Despite that oil wealth, Venezuela has plunged into an unprecedented economic crisis, with many people skipping meals due to shortages and soaring prices.

Many Venezuelans fear that preventing a the referendum increases chances of social unrest in the already volatile and violent country.

The opposition coalition has called for a major peaceful protest on Wednesday, dubbed “The takeover of Venezuela” to keep pushing for the plebiscite.

(Reporting by Deisy Buitrago; Writing by Alexandra Ulmer

Will Ali Khomeini Have Iran’s President Hassan Rouhani Murdered In Venezuela This Week?

 

This week the President of Iran, Hassan Rouhani gave a speech saying that the Iranian Government needed to “back it down a notch” concerning rhetoric toward Saudi Arabia and the U.S.. Within a couple of hours the person who really rules Iran as a true dictator “the Demon” Ali Khomeini who calls himself “The Supreme Leader” gave a very different speech concerning these issues. By no means is this the first time that the “moderate” President Mr. Hassan Rouhani differed on policy issues whether it be domestic or foreign. The Supreme Leader whom the people of Iran have not elected to that position constantly undermines the President of Iran whom the people did elect. Today Mr. Khomeini after the President spoke of a lighter touch concerning the Saudi’s and the U.S. did his typical tongue lashing of the President and spoke a very harsh line toward the U.S. and the Saudi’s. For those of you who do not know it, Iran is the biggest Shiite Islamic country in the Middle-East and Saudi Arabia is the largest Sunni Islamic country in the Middle-East and these two branches of Islam have hated each other since the Islamic faith started about 1,400 years ago. If the U.S. Security Agency’s are correct these two country’s are the biggest supporters of terrorism in the world. Both want total control of the Islamic faith, and of the whole world. The U.S. of course is hated by almost all the Sunni and the Shiite and is constantly refereed to as “the Great Satan.” Yet because the Saudi Government sells the U.S. many billions of dollars worth of oil each year and the U.S. sells the Saudi’s billions of dollars of military equipment the U.S. Government stays mostly quiet about terrorist acts committed by Saudi citizens. Also ever since “the Islamic Revolution” in 1979 Iran and the U.S. have been at odds with each other.

 

This weekend the OPEC country of Venezuela is having a conference, a get together if you will of Nations called “the Non Aligned Movement Country’s.” The Venezuelan President Mr. Maduro at this point in time is barely holding onto his power as President as most of his citizens want him ousted because he has done a horrible job with the Nations economy since he took office. The people of his Nation are out of work, have almost no utilities and they are starving. Crime in his country is totally out of control, even though his country is a OPEC country it appears that the revenues aren’t going to the people and the economy. Usually when this is happening history tells us that the leaders and their buddies are stealing the country blind. So, now there is this conference being held in Venezuela at the Island of Margarita. It is reported that things are so bad that even their, there is no running water and that employees are putting water jugs in the bathrooms of the major hotel so that the guests will be able to wash their hands. This hotel used to be considered a 5-star facility, now these honored guests can’t even flush their toilets or take a shower or bath.

 

My question is simple, with the living conditions on the ground there in Venezuela being what they are, how good is the security there really going to be? With the reality that ‘The Supreme Ruler’ hates the Iranian President because he is a man who dares to stand against the policies of Ali Khomeini  at times even publicly like yesterday, will Mr. Khomeini have the President assassinated while he is out of Iran there in Venezuela? Think about it for a moment, it would be an easy thing for Khomeini to have done. Having him murdered while he is in South America would be advantageous to him because he could and probably would blame the assassination on the U.S. Government. Certainly President Maduro of Venezuela whom also hates the U.S. and blames the Americans for almost all of his personal failings would have no problem blaming the Americans. To me this conference just seems like the ideal time and location for ‘the Supreme Leader’ to get rid of a President that he personally hates. I personally hope that this event does not happen but it is a well know fact that Mr. Khomeini is a mass murderer just like his daddy was and I do not believe he would lose any sleep over the death of the Iranian President. I hope I am wrong, I hope that no harm comes to President Rouhani, now, only time will tell.

Follow me on Twitter

Social

Follow Truth Troubles: Why people hate the truths' of the real world on WordPress.com
oldpoet56

oldpoet56

truthtroubles.wordpress.com/ Just an average man who tries to do his best at being the kind of person the Bible tells us we are all suppose to be. Not perfect, never have been, don't expect anyone else to be perfect either. Always try to be very easy going type of a person if allowed to be.

View Full Profile →

Find Your Middle Ground

"Life is a series of highs and lows. Be grateful for the highs. Be graceful in the lows. Enjoy life fully and find contentment in your Middle Ground" Val Boyko

Blog of a Mad Black Woman

Life Experiences, Quotes & Randoms

Dinosaurs, Donkeys and MS

My life: teaching, acting and living with MS

Sabakuch.com

Get Sabakuch , Visit Sabakuch

Laura Bon

Inspiring the world

Life Water

"Let him who thirsts come. Whoever desires, let him take the water of life freely." - Rev. 22:17

God Is Everything

Jesus Lord Jehovah God Christian Bible Religion Holy Spirit

L'essen-ciel

Bien-être du corps et de l'esprit

zeitderreife

Meine Bilder, Gedanken und Emotionen

Karina Pinella

Writing the Wrong, Right, and Ridiculous

Web Development Ebooks

“Life is like riding a bicycle. To keep your balance, you must keep moving.” — Albert Einstein

Jardinagem Poeta

Este sítio refere-se à jardins e ao trabalho do jardineiro.

Actually Autistic Blogs List

A list of blogs by Autistic adults

The Best Articles Of Collection

A collection of articles that are interesting to read, provide motivation and encouragement for you.

Viviaggia.com

Send us your trip's photos

desert mice and dreams

a few virtual stories and wanderings

#FILMose

Crítica para quem gosta de Cinema.

Danger Kit

- Poetry -

Behind The Words

Sandy Masia's author blog...

malave.com

humanista

themomfred

Rain Makes Applesauce

Chainsoff's Blog

A topnotch WordPress.com site

Natuurfreak

Mijn fotoblog

Hisamullah's Blog

Just another WordPress.com site

The Next 366 Days

A Remarkable Journey With God

SOulBLINDministry.com

The Bible you've been missing

Things Made Known

Making sense of God's world with God's word

The Phantom Rem

Stories From Within

harshuweb

Hello bloggers! How are you all doing? I hope everything is fine! Please do visit my blog.Comment,like,share anything you want.

Didi Oviatt

Author of the Time Waster Series-Super Short Preludes, and suspense novels Aggravated Momentum, The Stix, and New Age Lamians... (blogger)

Christian Daily Verse

Daily Devotional of Earvin Kyle Tupas Amacan

Jagmal

Let The Jag be Millionaire

Anda Bertanya Ateis Menjawab

Memperkenalkan keberadaan ateis di indonesia secara bersahabat

unrecognised virtuose

Run by a naive utopianist, Theodora R. Zygarde.

Kupretist blog

Seek and You Shall find

Chinese Commercial Correspondence

Chinese, language, learn, speak, write, textbook, contract, beginner, advanced, intermediate, commercial, marketing, correspondence, characters, radicals, decomposition, business, numbers, numerals, contract

Me,my weird thoughts and I

A place where I can doodle my thoughts and other random stuff that interest me at the time.

The Picture Patch

photography, nature, life, people, thoughts, passions

Graffiti Lux and Murals

Luxuriating in Ephemeral Art

Toni Roberts' Photojournal of Self-Transformation

one woman's journey to wholeness...

Joy of Life

“Enjoy life. This is not a dress rehearsal.”

Ardiantoyugo

Night Riding Without Seeing

Mohamad Al Karbi

محمد القربي

Murmurs from the Earth...

Whispers from the Sky

%d bloggers like this: