Originally Posted by CWeb

Venezuela still does have a strong economy - can't remember all the stats and maybe a year or so out of date, but around 2004 was showing an annual increase of 16% (more than any prime industrialized counties) and over 9% increse in GDP in more recent years (again, more than any prime industrialized country).

In the last roughly six months, Chavez has been contracting with a broader "customer base" for future oil sales and also dumping plenty funds into other industries which also export other product eg aluminum, mining etc.

Sure.. it depends if his "investments" end up being profitable and effective overall, but even without them, Venezuela is fairly strong for a while ahead and owes very little in foreign debt.