We have no doubt the announcement last Monday by the International Monetary Fund that Venezuela’s inflation could top one million per cent by the end of the year is part of the economic and political war being waged against the Bolivarian Revolution.
It’s intention is revealed by its timing. This is intended to destroy any hope in the possibility of a reversal of economic fortunes in that country.
The IMF says the projections are based on calculations prepared by its staff, but warns that they have a degree of uncertainty greater than in other countries, “any changes between now December may include significant changes”.
Why make such a very serious statement with very devastating consequences on a country on such admittedly uncertain projections? The intention is to further strangulate Venezuela.
One just needs to consider a few glaring facts, extrapolate and use a bit of common sense to understand the nature, extent, principals and accomplices in this economic and political war being waged against Venezuela and their modus operandi.
We have not forgotten the scarcities that were introduced in an attempt to topple president Hugo Chavez after their coup of 2002 failed.
We have also not forgotten the Obama decree declaring Venezuela a threat to United States national security and its intentions.
And Trump’s threats of military intervention and his financial sanctions against the Venezuelan oil industry are still ringing in our ears.
The purpose of all these pronouncements is to send signals to those still doing business with Venezuela to pull out.
And this is what the International Monetary Fund is today trying to compound, escalate.
There’s an unending campaign to discredit the Venezuelan government and President Nicolas Maduro.
In short, there is a political motive behind the International Monetary Fund’s one million per cent inflation projections announcement.
We denounce all these measures that seek to overthrow the legitimate Government of President Maduro and plunder the resources of Venezuela.
In the face of ongoing attempts to depose the elected government of President Maduro and annihilate the Bolivarian Revolution, the Socialist Party (Zambia) reaffirms its support and solidarity with the Venezuelan people, their government and the Bolivarian Revolution.
The effects of the ongoing economic war against Venezuela is the main reason for inflation. They hope that this economic strangulation may help turn the revolution’s base against the government. They purposely exaggerate the scale of the economic problems, while ignoring the causes of this problem.
For these reasons, the Socialist Party (Zambia) makes clear its opposition to the economic and political war being waged against Venezuela to overthrow the Maduro government and annihilate the Bolivarian Revolution.
The Socialist Party (Zambia) rejects any foreign intervention in Venezuela and calls on the International Monetary Fund to immediately halt its campaign against Venezuela, which only seeks to aggravate the economic situation.
The Socialist Party views the Bolivarian Revolution not only as a profound anti-capitalist struggle, but as a spearhead in the global fight for a better world whose defeat would set back the peoples’ struggle not only in Venezuela but more broadly.
Now is the time to demonstrate our solidarity with Venezuela’s Bolivarian Revolution and defend the Maduro government against this imperialist economic and political war.
Dr Fred M’membe is a journalist, an accountant, a lawyer with a Master’s degree in taxation and member of the International Bar Association’s taxes committee, an economist with a Master’s degree in economic policy management and holds a doctorate in Business Administration.