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New Donors: Development Assistance à la Chávez

Motives and forms of Venezuela's foreign aid

The oil boom made it possible. Venezuela, the fifth largest exporter of oil and petroleum products has developed into an important donor country in Latin America in the past three years. Petrodollar revenues of US$35bn in 2005 and a solid balance of payments surplus create sufficient leeway for altruistic capital export in the form of official financial aid. A survey by Bodo Ellmers.


It is not obvious that a well-to-do country financially supports poorer countries solely because it has the potential to do so. As is known, only a few of the old money countries in the North meet their international obligation to dedicate 0.7% of GNP to development co-operation ...

... this article of
WDEV Issue 2/2007 is for subscribers only. For direct log in >>> click here. If you have no subscription >>> pick an option or >>> buy the article.

Posted: 7 March 2007

More on the subject:
* The New Landscape of Lenders and the World Bank >>> WDEV Issue 1/2007
* A Spectre is Haunting Latin America: "Populism" doing well >>> here.
* Brazil Joins Donors: US$20m for IFIm >>> here.

Financing for Development: From Monterrey to Doha / Shifting the Debate: A Double Majority for the IMF


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