Venezuela

The Bolivarian Republic of Venezuela in South America is roughly twice the size of California with a population of more then 24 million people led by President Hugo Chavez since his election in February, 1999 (Country 1-4). With respect to international organizations, the economics of Venezuela are important to consider among other factors such as human rights conditions and the environment. The real growth rate of Venezuela’s GDP is 2.7% with per capita income of $6,100 (Country 6). More than 67% of those living in Venezuela are under the poverty line (Country 6). Inflation and unemployment levels are high, with 12.3% inflation and more 14.1% of the country is unemployed (Country 6).

The major industries in Venezuela include petroleum, iron ore mining, construction materials, food processing, textiles, steel, aluminum, and motor vehicle assembly. The annual budget for Brazil is $21.5 billion but annual expenditures exceed this number coming in at $27 billion (Country 7). Of all the industries in Venezuela, the country’s rich petroleum reserves allow the petroleum industry to dominate the economy, accounting for approximately one-third of its GDP. After a harsh recession in 1999, rising international oil prices somewhat aided economic recovery, even though the country experienced non-oil sector and capital flight.

The U.S. is the major import and export partner of Venezuela.

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vices can readily make a difference” (Bolivarian 1). The World Bank in the implementation of such programs works with various organizations and institutions in Venezuela. In this particular case, the World Bank will work with the Caracas Metropolitan Health Services Project. Members of the World Bank argues that a decentralized healthcare service will be the most effective for a country like Venezuela, because it enables local agencies to determine which services are provided and to who. HIV/AIDS is a major health threat in Venezuela. The World Bank and Venezuela relationship is aimed at improving the quality of life for Venezuelans as well as refurbishing and upgrading the infrastructure. In 1997 the World Bank approved a $28 million loan for the government so it could make its environmental management capacity more sound. This kind of management helps create sustainable socio-economic development in the country. When the loan was approved, Mario del Carril noted that the funding will be divided among organizations to bolster economic and social development by helping create a government that can respond more effectively to such needs: “The Environmental Management and Cartography Project will help modernize Venezuela’s E
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Approximate Word count = 3387
Approximate Pages = 14 (250 words per page)

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