Saturday, November 03, 2018

Venezuela's Economic Helpers

I imagine Nicolás Maduro first turned to the Cubans to come up with an economic stabilization plan. Since the Cubans are serious debtors who don't know much about economic prosperity beyond finding patrons, they were not the best advisers. They're quite good at dictatorship, though, and have been helpful in that regard.

So now he is asking the Russians for advisers. That is according to the Russians, who also make clear that since Venezuela has also not been so good with debt, they will be receiving only advice, not money. In fact, Vladimir Putin has not even decided yet whether he wants to provide such an adviser. I can't imagine why he wouldn't, as it seems a low-risk way of maintaining and even increasing Russian influence.

The Russians think Maduro may have also asked the Chinese government for an adviser. The Chinese are similarly wary of giving more money but they also like influence.

I wonder, though, whether they can advise much beyond just saying, "You're totally screwed."


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