Central bank assistance to state-run Pdvsa stands at USD 29 billion
Assistance over the last 12 months has spiked to 79%
By October 26, the BCV had allocated USD 29 billion to Pdvsa, compared to only USD 16.2 billion during the same period in 2011.
During October this year, the financial aid amounted to USD 30.4 billion. Although by the end of that month the oil company had arranged to pay its liabilities, it only reduced its debts by USD 1.3 billion.
The BCV began providing financial assistance in the first half of 2010 when it received promissory notes that Pdvsa had issued to the National Treasury. Since then, financial assistance has not stopped.
Translated by Jhean Cabrera
That political protest in Venezuela has lost momentum seems pretty obvious: people are no longer building barricades to block off streets near Plaza Francia in Altamira (eastern Caracas), an anti-government stronghold; no new images have been shown of brave and dashing protesters with bandanna-covered faces clashing with the National Guard in San Cristóbal, in the western state of Táchira; and those who dreamed of a horde of "Gochos" (Tachirans) descending in an avalanche to stir up revolt in Caracas have been left with no option but to wake up to reality.