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Article Artículo

Latin America and the Caribbean

Venezuela

World

Does the OAS Support Democracy in Venezuela?

Venezuelan president Nicolás Maduro made news this week by breaking off relations with Panama following Panama’s proposal for the Organization of American States (OAS) to take up the situation in Venezuela. Panama’s move followed weeks of calls from members of the U.S. Congress, pundits and others to use the OAS against the Maduro government for supposed government repression of “peaceful” protesters.

In remarks yesterday, OAS Secretary General José Miguel Insulza criticized what he described as hypocrisy from both those who support and oppose such a move. Insulza stated:

here we see a swapping of roles: Those who just a few years ago brandished the Inter-American Democratic Charter to demand severe sanctions against the de facto government in Honduras are now saying that even mentioning a crisis that has already led to the deaths of a large number of people constitutes interference; while those who denounced (and still denounce) the steps we took when faced with an obvious coup d’état as an attack on a nation's sovereignty –I’m referring again to Honduras-, now demand that we help them overthrow a government recently chosen in a democratic election.

It appears that Insulza is playing a role that he has played on numerous prior occasions – most recently in April when he refused to recognize the Venezuelan presidential elections, until South American pressure forced him (as well as the U.S. and the right-wing government of Spain) to accept democratic election results.  This is unfortunate, but the manipulation of the OAS by Washington and a diminishing number of right-wing allies is the main reason that Latin American countries created the Community of Latin American and Caribbean States (CELAC) in 2011, to have a region-wide organization without the U.S. and Canada.

While it is important for officials such as Insulza to reaffirm the importance of Venezuela’s democratic processes and remind the OAS membership that Venezuela’s government was recently elected (and had its strong public support reaffirmed less than three months ago in local elections), other remarks equate extreme sectors of the Venezuelan opposition and the Venezuelan government, even though the government has won elections and the opposition has not:

Today, it is undeniable that there is a profound political crisis, characterized above all by a split and confrontation between most political and social actors into irreconcilable bands. When the opposition mobilizes, it does so on a massive scale, and poses strong demands; when the Government's supporters take to the streets, their numbers and the fervor of their demands are also huge.

But for the last few weeks, it isn’t “massive” opposition protests that are occurring, but rather small protests designed to wreak havoc in a few neighborhoods throughout the country.  In essence, Insulza and the U.S. administration are suggesting that when extremist groups demand the immediate departure of an elected president, and try to achieve their aim by barricading streets and engaging in violent acts, the government has an obligation to dialogue with them.

CEPR / March 07, 2014

Article Artículo

Economic Growth

Workers

JOBS FLASH: Jobs Picture Mixed in February
The Labor Department reported that the economy added 175,000 jobs in February with modest upward revisions to the prior two months' data. This brings the 3-month average to 129,000. While this is considerably weaker than the fall months, weather has undoubtedly played a role in slowing job creation. The mix of jobs in February was somewhat peculiar with the professional and business services category accounting for more than half of the total (79,000 jobs). This was driven in part by an unusual jump in accounting bookkeeping services of 15,700 jobs which partially offset the decline of 30,800 reported in December. Manufacturing employment has slowed to a crawl, adding 6,000 for the second consecutive month, following a 7,000 rise in December.

Dean Baker / March 07, 2014

Article Artículo

Latin America and the Caribbean

Venezuela

World

NYT Violates Standards of Basic Economics and Journalistic Procedures in Reporting on Venezuela Inflation

En español

On Saturday, March 1 the New York Times ran a graphic accompanying its article on Venezuela that showed an “implied inflation rate” of more than 300 percent.

This is a statistic that was manufactured by the Cato Institute. It is not a meaningful measure of inflation, and there are few economists who would accept it as such. I will explain below why the Times has violated both the standards of basic economics and also standard journalistic procedures with this decision, which as of today (March 6), the editors have refused to correct, despite being presented with explanations of why it is wrong. But first, a note on the significance of this kind of misreporting.

If this bogus statistic is picked up by Venezuela’s opposition media and becomes another “fact,” it could have a significant influence on the actual dynamic of inflation in Venezuela. To the extent that this statistic is believed, many Venezuelans would not want to hold domestic currency and would move their money into dollars or other assets, thus fueling both black market currency depreciation and inflation.

CEPR / March 06, 2014