August 12, 2020

IDB changes location of annual meeting from China over Venezuela


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By Melanius Alphonse from Caribbean News Now

WASHINGTON, USA — , in a show of support of President Nicolás Maduro as head of state, has refused to grant Juan Guaidó a diplomatic visa to . The move comes ahead of the Inter-American Development Bank () annual meetings that will no longer convene in and the resignation of Lalu Hanuman, IDB ConSoc committee chairperson and ordinary member in Barbados. These events have all unfolded at a moment when is pivoting geopolitical power in .

The IDB press release on March 22, stated, “The board of executive directors of the IDB today resolved that the annual meetings of the boards of governors will not convene in Chengdu, People’s Republic of China, from March 28 to 31, 2019. The board also resolved that management will present its recommendations for the location and date of the 2019 annual meetings of the IDB within a period of 30 days.”

Chinese foreign ministry representative Geng Shuang, speaking at a press briefing, told reporters that “China deeply regrets that the IDB decided to call off its annual meeting in Chengdu. The vast majority of the IDB membership agree with China’s view that the annual meeting should focus on financial cooperation and not be disrupted by contentious political issues,” alluding to Venezuela.

Meanwhile, Hanuman’s resignation letter addressed to the IDB’s operations senior associate, Janette Archer-Headley, in Barbados, stated:

“It is with deep regret that I hereby tender my resignation with immediate effect from the IDB ConSoc committee both as its chairperson as well as an ordinary member.

“This decision is occasioned by the recent IDB’s board of governors’ decision to recognise the self-proclaimed Juan Guaidó as president of Venezuela over the constitutional president of Venezuela, Nicolas Maduro. This interference in the domestic affairs of a member country is a flagrant breach of the Inter-American Development Bank’s charter.

“I cannot out of principle continue to participate in the IDB ConSoc committee in the circumstances of the bank’s gross interference in Venezuela’s internal affairs.”

The IDB was established in 1959 and is a leading source of long-term financing for economic, social and institutional development in Latin America and the Caribbean. The IDB also conducts cutting-edge research and provides policy advice, technical assistance and training to public and private sector clients throughout the region.

American diplomacy protects American interest and values, supported by economic and military power to leverage global dominance. Globalisation, diplomatic skill, trade and investment have revolutionised both Russia and China to advance cooperation in support of Maduro and the components of a proxy standoff.

According to Tareck El Aissami, Venezuela’s minister of industry and national production “the aggression Venezuela has experienced, the terrorist acts, the blockade and the financial persecution are unprecedented anywhere in the world.”

Russia’s defiance of US actions is led by regulating an agreement on military and technical cooperation and approximately $4 billion in loan agreements.

Venezuela’s collaboration with China has developed strong cooperation agreements in the energy and military sectors. This is reinforced with the restoration of electricity supply at the Simon Bolivar Hydroelectric plant, following recent blackouts and disruption.

The Trump administration economic sanctions on Venezuela make it almost impossible to trade in essential goods and services including medical and surgical supplies. However, as a result of cooperation agreements with China along the lines of an “integral strategic partner and friend,” Venezuela received 65 tons of medicine and supplies on Thursday.

In a strong political and economic move, Chinese ambassador to Venezuela highlighted the role of diplomacy and increasingly active in promoting trade and investment, saying that “the Venezuelan people are capable of keeping the peace.”

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