Monday, October 28, 2013

Oil rich deadbeats

Brazil gave credit, where it is now overdue;
Accrued liabilities extend, in some cases, to four months, reported news agency DPA based on information provided by the affected Brazilian companies. The situation lashes mainly the food sector, which reported a rise in its sales to Venezuela within the framework of the Brazilian government plan aimed at helping Venezuela face staple shortage.
According to the newspaper, delays in payments are attributed to the economic crisis in Venezuela, which has led Nicolás Maduro's government to implement tougher controls over the sale of US dollars.
Given entrepreneurs' concern, Brazilian President Dilma Rousseff sent a mission to Venezuela comprised by Development, Industry, and Foreign Trade Minister Fernando Pimentel and Foreign Affairs Advisor Marco Aurelio García.
"Officially, the mission aimed at ratifying Brazil's willingness to help its economic partner overcome the crisis of food supply, yet delays in payments have been one of the main topics," added DPA.
The 'crisis of food supply' can be overcome immediately. Just abandon socialism.

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