Fitting May Day piece...
The Venezuelan president, Hugo Chavez, today severed ties with the World Bank and International Monetary Fund.
The Venezuelan president, Hugo Chavez, today severed ties with the World Bank and International Monetary Fund.
In doing so he distanced Caracas further from what he described as Washington-dominated institutions.
The
populist leader, who took office pledging to pursue radical political
reform and an economic "third way," said yesterday that Venezuela no
longer needed institutions "dominated by US imperialism."
Speaking
at a May Day event, Mr Chavez said: "We don't need to be going up to
Washington... We are going to get out. I want to formalise our exit
from the World Bank and the International Monetary Fund."
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