Venezuela President Hugo Chávez’s visit to Bolivia has concluded with the signing of 16 cooperation agreements which will further cement the close relationship between Chávez and Bolivian counterpart Evo Morales and heighten the nervousness of some foreign investors. Venezuela has announced, presumably much to the chagrin of Brazilian oil operator Petrobras, that it will invest $1.5 billion into the Bolivian energy sector via its state-owned oil entity PDVSA. In addition, it has said it is committed to buy $100 million of Bolivian debt. This would certainly help Morales’government with its budget shortfall this year, and is in line with Chávez’s goal to promote a regional capital market.
Technorati Tags: Bolivia, Evo Morales, Venezuela, Hugo Chavez
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