International

Maduro and Petro meet for the fourth time in just a few months

Photo: Reuters

March 24 |

The presidents of Venezuela and Colombia, Nicolás Maduro and Gustavo Petro, met on Thursday in Caracas where they addressed issues of economic, commercial, financial, political and cultural cooperation, according to official sources.

“Productive and warm working meeting with the President of the Republic of Colombia, Gustavo Petro. We set out to deepen the alliances between Venezuela and Colombia, and we are achieving it with union and commitment. Always welcome to this sister land!”, Maduro simply wrote on his Twitter account on Thursday night.

Shortly after, through the official account of the Presidency of Colombia, it was reported that the leaders discussed issues related to the “joint fight against drug trafficking, the opening of consulates and the Summit of countries of the region to be held within the framework of the Amazon Cooperation Treaty Organization (ACTO)”.

The meeting, in which several high-ranking officials participated, among them the Colombian Foreign Minister, Alvaro Leyva; the president of the Venezuelan National Assembly, Jorge Rodriguez; the Colombian ambassador in Venezuela, Armando Benedetti, took place at the Aquiles Nazoa Cultural House, former presidential residence, and ended without a public statement.

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Petro’s visit was scheduled for Monday, but was cancelled amid a corruption scandal in the state-owned oil industry, Petroleos de Venezuela (PDVSA), for which several high-ranking public officials have been arrested.

Following the reestablishment of diplomatic relations in August last year, after Petro took office, the leaders have already held three bilateral meetings in Caracas and one at the Atanasio Girardot International Bridge, which links the state of Táchira with the Department of Norte de Santander.

On that occasion, in February of this year, they signed a partial scope agreement of a commercial nature and Petro said he hoped that the bridges “will be filled with trade” and “people” on both sides of the border.

Consulted by Voice of America, Juan Francisco Contreras, internationalist and president of the College of Internationalists of Venezuela (CODEIV), exposes that the absence of details of the agenda generates “many speculations” and considers that one of the topics that has caused Petro’s frequent visits to Caracas are the peace negotiations of his government with the National Liberation Army (ELN).

For the internationalist with studies in security and defense, both Venezuela and Colombia are interested in the demobilization of the groups that are “outside the law on both sides of the border”.

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However, he considers that there is a “rush” on the part of Petro to achieve results and believes that the priority should focus on establishing “objectives and guidelines” so that the process “does not end badly” as in the case of the Revolutionary Armed Forces of Colombia (FARC).

In his opinion, Colombia is also interested in a democratic solution to the Venezuelan political crisis, which, he believes, would allow the return of many Venezuelans in the neighboring country.

Contreras does not see, so far, that there has been a real “normalization” in trade relations.

“The way in which the economic policy has been designed in our country has affected Venezuelan businessmen, there is practically no credit, the transportation issue is very complicated, there are many situations that make our businessmen to be in difficult conditions to be able to compete with other businessmen. Changes must be made so that our businessmen can be competitive”, he explains.

In 2015, after a diplomatic crisis with the Colombian government, Maduro ordered to close the passage of vehicles on the border with Colombia and in 2018 the Venezuelan government expelled consular officials.

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Relations between Maduro and former President Iván Duque, who recognized Juan Guaidó as interim president of Venezuela, were marked by constant mutual accusations, especially since 2019 when humanitarian aid was attempted to enter through the border.

International

US panel backs Trump-themed coin amid controversy

The United States Department of the Treasury confirmed to AFP that the Commission of Fine Arts approved the design of a new collectible coin featuring Donald Trump, with members of the commission appointed by the current administration.

According to the proposal, the coin will feature an image of Trump standing with clenched fists over a desk on the obverse, while the reverse will display an eagle, a traditional symbol of the United States.

The sale price of the collectible has not yet been disclosed, although the United States Mint typically offers similar items for more than $1,000.

“There is no more iconic portrait for the front of these coins than that of our president Donald Trump,” U.S. Treasurer Brandon Beach said in a statement sent to AFP. He added that two additional coins — a $1 piece and a one-ounce gold coin — are also under consideration.

However, the Citizens Coinage Advisory Committee (CCAC), another body responsible for reviewing new coin proposals, declined to discuss the Trump design in late February.

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“Only nations governed by kings or dictators place the image of a sitting leader on their currency,” said Donald Scarinciat the time. “No country in the world has minted coins featuring a democratically elected leader during their term in office,” he added.

When contacted by AFP, the Treasury Department did not immediately respond to requests for further comment.

International

Fed’s Waller warns of rising inflation risks amid Middle East conflict

Christopher Waller, a governor at the Federal Reserve, said Friday that he is increasingly concerned about the inflationary impact of the ongoing conflict involving United States and Israel against Iran, particularly due to the prolonged closure of the Strait of Hormuz.

Waller, who had supported interest rate cuts over the past year amid concerns about the labor market, said he has shifted his stance in recent weeks due to rising inflation risks.

“Since the Strait of Hormuz was closed, it suggests this conflict could be much more prolonged and that oil prices will remain elevated for longer,” Waller said in an interview with CNBC.

“Therefore, this indicates that inflation is a greater concern than I had previously assessed,” he added.

Waller also backed the Federal Reserve’s decision earlier this week to keep interest rates unchanged, signaling a more cautious approach as global geopolitical tensions continue to affect economic outlooks.

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International

Brazil offers to mediate Colombia-Ecuador tensions, calls for restraint

The government of Brazil has offered to mediate in the ongoing tensions between Colombia and Ecuador, while calling on both nations to exercise restraint.

In a statement released Wednesday, Brazil’s Ministry of Foreign Affairs urged the parties involved to act with moderation and seek a peaceful resolution to the dispute.

“Brazil encourages all sides to act with moderation in order to find a peaceful solution to the controversy. It stands ready to support dialogue efforts aimed at preserving peace and security in the region,” the statement said.

Brazil also expressed “serious concern” over reports of deaths in the border area between Colombia and Ecuador, noting that the circumstances surrounding the incidents have not yet been clarified.

The diplomatic move comes amid rising tensions between the neighboring countries, increasing regional concern over stability and security along their shared border.