Retrieved from Frontera Viva
The Venezuelan government, saddled with hundreds of bankrupt state-owned companies in an economy in free fall, is abandoning the socialist doctrine and handing over key enterprises to private investors, offering profits in exchange for a share of revenues or products. Dozens of chemical plants, coffee processors, grain silos, and hotels seized over the past two decades have been transferred, but not sold, to private operators in so-called strategic alliances, said nine people with knowledge of the matter. The managers cover payroll and investments and turn over products and a percentage of their revenues to the government. Full Text -> TheYucatanTimes
More Stories
How Venezuela’s election could upend the geopolitics of the Americas
Crypto Remittances Skyrocket as Migration Crisis Worsens
Un dolor de cabeza menos para Citgo