U.S. Commerce Secretary Ross pledges support for Venezuela reconstruction [Reuters]
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Source: Reuters
U.S. Commerce Secretary Ross pledges support for Venezuela reconstruction - Reuters 2 Min Read BRASILIA (Reuters) - U.S. Commerce Secretary Wilbur Ross said on Thursday the United States is ready to support pro-market reforms and privatizations in Venezuela with credit and investment. There will be an immediate need for a capital infusion to undo socialism in Venezuela once the internationally recognized government of opposition leader Juan Guaido takes over, Ross said at a meeting on the reconstruction of Venezuela. In the long term, however, Venezuela has 300 billion barrels of oil, gold and other mineral resources to rebuild its economy, he told the gathering of infrastructure company executives in Brasilia. Ross said the “terrible” mismanagement of the economy by socialist governments had to be reversed first by boosting private enterprise and investment to later restore sustainable growth with an infusion of capital and management skills in the oil, gas and electricity industries
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