The death of the
Venezuelan president Hugo Chavez has put
all the seventeen Caribbean countries in a state of shock and panic.
These countries have been strongly predicted to undergo a heightened
era of economic uncertainty on such a big loss. Out of the 17
Caribbean nations, twelve of them are members of the Caribbean
Community, Caricom. In fact, they have become highly dependent on
PetroCaribe, the part-payment loan scheme, in regard to their oil
supplies from Venezuela. Without it, they would never be able to come
out of their worsening economic circumstances.
 |
| Image Source: Starmedia.com |
It was found that
out of a total of $14-billion worth of oil, almost $5.8 billion
comprised as long-term financing provided by Venezuela to the
seventeen dependent nations under PetroCaribe.
Although Cuba stands as the principal beneficiary, a good number of
Cariciom countries especially Jamaica are also considered to be among
the beneficiaries in terms of per capita.
Venezuela almost
entirely finances the ALBA Caribe Fund and
ALBA Food Fund which are no doubt significant contributions towards
the welfare of the beneficiary states. In the last six years till
2012, the ALBA
Caribe Fund had invested
around$179 million for a total of 88 projects ranging from water to
education. On the other hand, the ALBA Food Fund invested a total of
$24 million for twelve projects.
Chavez had a good
number of personal projects. Although he carried along his
government, he had his own ideas, and the
strategies to execute them were also designed by him. In fact, he had
always desired to supervise over the dependent Caribbean nations out
of his passion to stop the US companies as well as the US government
from exercising their influences in Latin America. He was rather
genuinely concerned about the sufferings of the poor living in these
countries and hence wanted to improve their situations at any cost.
Hugo Chavez
introduced a comprehensive literacy policy with the intention to
widen access to education and double the enrolment figures in the
universities. Moreover, the number of old
citizens drawing pension had gone up today to four times more than
what it used to be earlier. Chavez was successful in accomplishing
these social reforms while sustaining the overall scenario of the
economy. At present, the Caribbean nations are experiencing constant
fluctuations as per their current economic records. This is one of
the reasons why students, businessmen and even holiday makers are not
feeling confident in travelling to any of those seventeen countries.
Since the full-time
college and university enrolments have got a bit affected, students
are trying online to get admitted in the Caribbean universities.
Although the economic conditions of the Caribbean countries are sure
to take control within a few months, the universities and colleges
out there will probably not stop offering online
courses to domestic as well as
international students. The Caribbean citizens believe that the
conditions both economically and academically will surely improve
with the passage of time.
No comments:
Post a Comment