Lessons from Venezuela: Rich oil income is not an insurance against bad economic policies
iHugo Chávez: Hero to Sri Lanka’s nationalists0-January 27, 2014Venezuela’s popular President, the late Hugo Chávez, was, and is still, a role-model in many respects for nationalistic minded groups in developing countries. This was specifically true for similar groups in Sri Lanka. Their love and awe for Chávez were amply demonstrated by them when they made anti-American and anti-Western marches in the streets of Colombo waving placards featuring photos of smiling but defying Chávez to support their cause. They had all the reasons to hero-worship him.
Bad economic policies supported by rich oil incomes
