RealNews

Chávez widens cheap oil finance network

Venezuela is broadening its network of regional alliances into Central America with its cheap oil financing initiative Petrocaribe, as countries find it increasingly hard to turn down President Hugo Chávez’s largesse amid soaring oil prices. After Guatemala formalized its membership at the Petrocaribe summit on July 13, Costa Rica has officially requested to sign up. Honduras joined earlier this year. Full Story

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