(belated post) I talked to Deutsche Welle and Bloomberg Turkey recently about the economic crisis in Venezuela. The interviews followed a “selective default” on part of the country’s debt obligations. Since then, there has been another round of purges and politically motivated crackdown, followed by military takeover of management, of key Venezuelan agencies and state-owned enterprises. This time, the target is CITGO, the Venezuela-owned (albeit heavily mortgaged) oil refining and gas distributing company that is familiar to many in the United States. The purge is highly unlikely to arrest the country’s falling oil production (one of the stated goals) after two decades of neglect and under-investment. Meanwhile, Venezuela is running out of liquid reserves and has fewer overseas assets to offer as collateral. It has already promised away much of its reduced oil production in exchange for earlier loans, which eats into the cash that it can generate. Its non-oil exports are negligible, and despite the import crisis, domestic production of basic goods has been hollowed out.
Earlier comment below the jump:
I reviewed Hal Brands’s intriguing Making the Unipolar Moment for Political Science Quarterly. The review has been published as part of the fall issue, and
My book Latin America Confronts the United States has just been released in paperback from Cambridge University Press. And it’s on sale on Amazon!
My chapter “Regional public goods in North America,” with Manuel Suárez-Mier, was just released in the book 21st Century Cooperation: Regional Public Goods, Global Governance, and Sustainable Development,
I have a new, general audience article with Max Paul Friedman on the International Security Studies Forum. They have been running a policy series on different aspects of U.S. foreign and security policy today.
I reviewed Princeton historian Robert Karl’s very good article on the intersection of the Cuban Revolution and Colombian domestic politics. The review was published today on the H-Diplo forum. In the review, I write:
I am keeping busy in Bogotá while on a British Council Researcher Links grant. With my colleage at Universidad de los Andes, Sebastian Bitar, we held a workshop/lunch with some of Colombia’s top scholars on foreign policy, the Colombian conflict, and the peace process. I have been lining up some interviews, meeting with other scholars, getting ready to give a graduate seminar and speak with a class of government officials, planning a public event, and co-drafting an article on Colombian foreign policy.