The neighborhood of Las Mercedes in Caracas, Venezuela is increasingly teeming with luxury cars, designer shops and casinos – a picture that seemed unimaginable just a few years ago but has become an example of how President Nicolás Maduro tried to improve the situation. economy by typical capitalist measures.
In a report published today in Bloomberg, certain areas of the Venezuelan capital are being described as new job centers for a small portion of the country’s population – about 90% of Venezuelans currently living in poverty, the article recalls.
At Las Mercedes, however, the impact of Maduro’s economic decisions is easy to spot: less control over prices introduced in 2018 and permission to circulate the dollar preceded the return of casinos and gambling, which had been allowed to operate since the second half. 2021, after a long ban imposed by former president Hugo Chavez.
In addition to the towers of business buildings under construction, a Ferrari store with the cheapest Portofino at US$200,000 makes up the area. A pair of stiletto shoes by Italian designer Gianvito Rossi are on display at the stores where leading brands in luxury dresses such as Hermès and Pronovias are sold.
“We’ve been missing a place like this for fun for the past ten years,” Maria Elena told the report. Millan, 52, a stockbroker, was having fun at the posh Humboldt Casino, one of Caracas’ best casinos.
Relations with the USA and the economy
Despite Venezuela being excluded from the Summit of the Americas, a meeting of US President Joe Biden with leaders from the continent, the country is experiencing a moment of improvement in relations with North Americans, particularly because of the war. Fear of oil shortage in the international market.
In May, Reuters sources said the Biden administration would authorize the US oil company Chevron Corp to begin negotiations with the Maduro administration and temporarily lift the US ban on such discussions.
However, the source added that there is still no final decision from Washington on the renewal of a currently limited license that allows Chevron to retain its assets in Venezuela.
Venezuela is experiencing an economic recovery after seven years of decline, with the bolivar stabilizing against the dollar, with forecasts pointing to 5% to 8% growth this year, experts say.
However, there is still skepticism as many feel that the improvement will be uneven in different social sectors and will be difficult to sustain over time.
*With information from Reuters
source: Noticias
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