Gifts from Chavez

Venezuela may provide more aid to their Latin American neighbors than the United States does (link to article in Forbes). Hugo Chavez the Venezuelan president has promised almost 9 billion dollars in aid to a variety of Latin American countries. The United States only gives about 3 billion dollars in direct aid to Latin America. However, as the article points out the numbers might not be totally comparable as the Venezuelan number includes investments by state run industry (particularly oil), while the U.S. number omits funding given to the World Bank and Inter-American Development Bank.

Venezuela is still a relatively poor country and continues to have problems with inequality. In fact inequality has increased in Venezuela during Chavez reign (see this link). Looking back on my previous post about CARE international refusing US funds because they were more about helping US farmers than those in poverty. Perhaps, much of this funding as the article suggests are investment in the best interest of Venezuela.