Chavez: The Monster Bush wants you to see isn't such a bad guy
President Hugo Chávez is spending billions of dollars of his country's oil windfall on pet projects abroad, aimed at setting up his leftist government as a political counterpoint to the conservative Bush administration in the region.
With Venezuela's oil revenues rising 32 percent last year, Mr. Chávez has been subsidizing samba parades in Brazil, eye surgery for poor Mexicans and even heating fuel for poor families from Maine to the Bronx to Philadelphia. By some estimates, the spending now surpasses the nearly $2 billion Washington allocates annually to pay for development programs and the drug war in western South America.
The Center of Economic Investigations, an economic consulting firm in Caracas, issued a study recently that said Mr. Chávez had spent more than $25 billion abroad since taking office in 1999, about $3.6 billion a year, while First Justice, a leading opposition party, put the figure at $16 billion, based on Mr. Chávez's own declarations.
What is clear is that upward of 30 countries as far away as Indonesia have received some form of aid or preferential deals.
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