At 6 p.m. on Nov. 11, FDU will welcome a significant figure to its campus, an ambassador representing the permanent mission of Venezuela to the United Nations, which as we know has been in some very controversial news recently. Ambassador Jorge Valero is the current Venezuelan Deputy Foreign Minister for North America and Multilateral Affairs, and the Permanent Representative to the United Nations. Ambassador Valero will speak in Lenfell Hall, with a dinner following for invited guests. Opportunities will be available for students and faculty to ask questions to Ambassador Valero and the night is expected to be one of thought-provoking and tough questions.
This lecture comes at a time when many of Venezuela’s actions have become controversial. For example, incumbent socialist president Hugo Chavez has met with Russian prime minister and former president Vladimir Putin to discuss the implementation of nuclear programs for Venezuela. Russia has extended a credit line of about $500 million to Venezuela for arms purchases, in addition to the $4.4 billion that has already been spent on submarines, weapons, and aircrafts. In addition to arms, Russia has pledged to provide Venezuela with nuclear technology. The London Telegraph released a quote from Chavez in regards to adding Venezuela as another country with nuclear capacity in the South American region.
“Brazil has various nuclear reactors, as does Argentina. We will have ours and Vladimir [Putin, the Russian prime minister] said Russia is ready to help Venezuela develop nuclear energy.”
As recently as Sept. 29, it was announced that Russian and Venezuelan forces would be practicing joint military exercises. In what Chavez refers to as a “profound friendship” with Mr. Putin, nuclear power and increased military spending may contribute to a lack of power in the Venezuela/Columbian border region. These ties with Russia are also supplemented with ties to Iran, where Chavez has turned the administration of Iranian President Ahmadinejad into a strategic partner. The London Telegraph identifies that “Mr. Chavez has supported Iran’s nuclear project and turned the Middle Eastern nation into a strategic partner, combining efforts to restrict oil production to keep prices high and engaging in joint economic ventures.”
Because of the necessity of oil profits for the country, the current drop in prices is presenting problems for Chavez’s administration. Oil accounts for 95 percent of export resources, and the funds pay for half of state expenditures. The Venezuelan economy implements many large and expensive social programs, and the administration has said that the decline in oil revenues will not lead to cuts in necessary expenditures, such as food, health, and education. However, Chavez’s political success is dependent on the high oil prices, and some believe that their decline and the resulting decline in revenue will weaken his administration. The Financial Times of the United Kingdom quotes that “analysts say Venezuela is among the most vulnerable OPEC countries, requiring one of the highest threshold oil prices to avoid slipping into a current account deficit.” If oil prices keep falling, Venezuela will certainly be in for hard times.
Keeping in mind Venezuela’s current controversies in economic and foreign affairs, one can certainly see why Ambassador Valero will be such an interesting figure to listen and question this November. This lecture is part of the U.N. Pathways Series hosted by the Office of Global Learning.
JACKIE HUMEN
Office of Global Learning
