Roundup: Venezuelan Political Crisis Heats Up

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Last updated at: (Beijing Time) Friday, October 18, 2002

Roundup: Venezuelan Political Crisis Heats Up

Facing a nationwide labor stop page set for Oct. 21, the long-enduring Venezuelan political crisis heats up while President Hugo Chavez and the opposition intensify their political confrontation.

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Facing a nationwide labor stop page set for Oct. 21, the long-enduring Venezuelan political crisis heats up while President Hugo Chavez and the opposition intensify their political confrontation.

An opposition ultimatum issued recently by the Democratic Coordination called the coming stoppage if Chavez does not resign and call earlier presidential elections. The Democratic Coordination consists of political parties, trade unions and legislators

Only six months later after Chavez's brief ousting in April, Venezuela's political crisis has worsened. Chavez returned to office three days later after the April coup with the support of people and loyal members of the military.

Although the popularity of the government goes down, Chavez still remains the strongest politician in the country, with 35 percent of support, according to an opinion poll.

The Opposition Confederation of Venezuelan Workers (CTV) organized, on Oct. 10 in Venezuela's capital, Caracas, a 400,000-strong march with the support of Fedecamaras, the largest entrepreneurial organization in the country.

The CTV president, Carlos Ortega, issued the ultimatum for Chavez to resign and call for presidential elections prior to Oct.16. Otherwise, Chavez would face a national strike.

President Chavez shrugged off the threat and began his five-dayEuropean tour on Monday, as planned previously.

Lope Mendoza, president of the Venezuelan Industry Council, gave an assurance that more than 3,000 companies of the country will take part in the strike of 12 hours to protest the government's economic policy and to demand new elections.

The general strike is expected to reach every sector of the country's economy.

However, Production and Trade Minister (MPC) Manuel Rosales said the national strike would not paralyze the country as expected by the opposition because workers of the state-run oil company, Pdvsa, and the Guyana Venezuelan Corporation (CVG), wouldnot support it.

Pdvsa and CVG workers represent 80 percent of the country's work force, Rosales said.

Analysts said Venezuela was undergoing one of the most criticalmoments in its history. In the first half of the year, its gross domestic product (GDP) contracted 7.1 percent, the oil sector by 12.1 percent, and the non-oil sector by 4.6 percent.

From January to September, inflation increased by 25 percent and unemployment jumped in July by 16.4 percent, or 489,000 peoplemore than the same month last year, totaling 1.890 million.

Throughout the year, the national currency, the bolivar, had a 94 percent devaluation, while production costs increased by 30.4 percent and the purchasing power of people dropped nearly 16.7 percent.

The impending labour strike would hit the fragile Venezuelan economy hard, analysts said.

With the escalating disputes between government and opposition,it appears difficult for a peaceful solution to the country's political crisis to emerge, and the situation will remain fragile for the future.

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