Economy
Domingo Maza Zavala, the former director of the Central Bank of Venezuela, said on Monday that Venezuela may ponder the possibility of selling Citgo, Pdvsa's oil refining branch in the United States, because of the decline of revenues.

Maza Zavala told Venezuelan radio station Unión Radio that the Venezuelan government would even negotiate the Orinoco Oil Belt and some state assets to get funds and survive another year.

He warned that the Venezuelan authorities are trying to eradicate trade unions and replace them with committees under the command of government officials. Further, badly needed investments in Pdvsa would be delayed.

Maza Zavala added that Venezuela is in the midst of a recession. However, President Hugo Chávez is not aware of what is happening in the domestic front or abroad because he believes that Venezuela has still enough revenues to tackle the crisis.

The economist forecasted that next year Venezuela will be hit by a higher inflation rate, worsened shortage of foods and other items, unemployment and social unrest.