Newsletter 3

Vol. 4: Issue 3, 22nd January, 2018

Bolivarian Government of Venezuela

Ministry of People’s Power for Foreign Affairs

Embassies of the Bolivarian Republic of Venezuela in the World

Weekly

Newsletter

What’s inside

Syria crisis: Turkey Attacks Kurds in Syria

Syria crisis: Turkey Attacks Kurds in Syria Venezuela rejects false accusations and U.S. interference Jerusalem: EU assures Palestinian leader of its commitment to oppose Trump on capital city UN Expert recognizes efforts of the Venezuelan Government Venezuelan opposition did not assist in the dialogue meeting in Dominican Republic Venezuela assumed alternate presidency of OPEC The 1% grabbed 82% of all wealth created in 2017

Inside Africa: Kenya,

Rwanda Lead in Financial Markets Index

Turkish soldiers have entered the Kurdish enclave of Afrin in northern Syria in a move which could mean that the seven-year-long Syrian crisis is entering a new phase. Turkey says that it plans to establish a 19-mile-deep safe zone under its control. According to the Turkish military, its jets and artillery have so far hit 153 targets there. The Kurdish paramilitary forces known as the YPG are fighting back and say that the Turkish military assault is being repelled.

The Turkish attack makes the complicated political and military chess game in Syria even more complicated than before. It will bring the US into direct confrontation with its Nato ally Turkey since the American partner in Syria is the YPG. It was YPG ground troops backed by US air strikes that led to the capture of Raqqa from Isis in October.

Turkey has long considered the rise of the Syrian Kurds, who have a population of about two million people and live mostly in north-east Syria, as a nightmare. It has watched in dismay since 2012 as the YPG, which is the Syrian arm of the Kurdistan Workers Party (PKK) that has been fighting a guerrilla war against the Turkish state since 1984, gained control of a great swathe of territory east of the Euphrates River. Turkish President Recep Tayyip Erdogan has described them as “terrorists” and has repeatedly promised to wipe them out.

The future of this semi-independent enclave known to the Syrian Kurds as Rojava is now hanging in the balance. The US first intervened militarily in Syria in 2014 to defend the Kurdish city of Kobani which was under attack by Isis. Regional leaders have wondered if the US would stick with its Kurdish allies once Isis was eliminated and risk enraging Turkey or would it pull its military advisers out of Syria and leave the YPG to its fate.

The US has said that it has never had forces in Afrin and what happens there is a Russian responsibility as there have been Russian military observers in the enclave. Nevertheless, the fall of Afrin will be taken as a sign that the US does not want or is not able to defend its Kurdish allies. In fact, it was an underestimate by the US of the fragility of the situation in northern Syria that provoked the present crisis. www.independent.co.uk www.edition.cnn.com The views and opinions expressed in these articles are of the author and do not necessarily reflect the official position of the Embassy

1

Venezuela rejects false accusations and U.S. interference Venezuelan authorities have made to alert the world about the serious threat that hangs over our country", begins the official statement.

The document denounces that the Trump administration "finances, protects and encourages groups that are violently seeking the removal of the government," and that "it articulates an international strategy, obscenely pressuring sovereign nations to join this strategy." of neocolonization of Venezuela ".

He added that President Maduro "has made permanent calls to the Government of Donald Trump to rebuild relations based on respect, dialogue and noninterference", to which Trump has responded by increasingly breaking the relations between both countries.

The Venezuelan Foreign Ministry issued an official report repudiating the false accusations and the repeated assaults by the U.S. authorities against the government of Nicolรกs Maduro.

"The U.S. government has tried to impose illegal unilateral sanctions, it has financed terrorism, it has supported extremist groups, it has made calls for the insurrection to the Armed Forces, going so far as to threaten Venezuela with military intervention," the statement said.

The Ministry for Foreign Affairs of Venezuela released an official document in which it rejected "categorically" the recent statement issued by the Government of the United States which, according to the complaint by Venezuelan authorities, evades the responsibility of that nation in the repeated aggressions against the people of Venezuela and while launching false accusations against the Government of President Nicolรกs Maduro.

Venezuelan authorities demanded the end of aggression against the country and reiterated "the bonds of brotherhood with the people of the United States of America, of which we have received countless signs of solidarity and rejection of the outrage committed by their Government."

"Venezuela rejects the distorted interpretation that the US Government has given to the accusations that (...) the

www.telesurtv.net

Jerusalem: EU assures Palestinian leader of its commitment to oppose Trump on capital city The EU remains committed to seeing Jerusalem as the shared capital of Israel and a proposed future Palestinian state, the bloc's foreign policy chief has told the visiting Palestinian president Mahmoud Abbas, despite Donald Trump's shift of US policy on the city.

Federica Mogherini said leaders needed to "speak and act wisely", and with a sense of responsibility, when discussing the Middle East peace process, and told Abbas the EU still believes that a two-state solution is the only viable way to meet both sides' interests.

Last year, the US President announced that the US would recognise Jerusalem, as a whole, as the capital of Israel, and moved forward plans to relocate the US embassy to the city from Tel Aviv.

At the time, Ms Mogherini issued a statement on behalf of the EU expressing "serious concern" about the American decision and "the repercussions this may have on the prospect of peace". www.independent.co.uk www.edition.cnn.com

2

Inside Venezuela!

UN Expert recognizes efforts of the Venezuelan Government After his visit to the Bolivarian Republic of Venezuela, Alfred de Zayas, an independent expert from the United Nations for the promotion of a democratic and equitable international order, stressed the importance of the creation of a teamwork by the Ministry of Popular Power for Foreign Affairs, in order to strengthen cooperation with the United Nations System and improve the distribution of food and medicines. He also acknowledged the announced news of releasing a number of people detained in the context of public demonstrations organized by the opposition.

The expert urged all the governments of the region to support the dialogue that is taking place in the Dominican Republic between representatives of the Venezuelan Government and the opposition: "Any resolution must reflect the will of all Venezuelans and enjoy international solidarity".

Cumbe weekly newsletter of the Bolivarian Republic of Venezuela N0: 60

Venezuelan opposition did not assist in the dialogue meeting in Dominican Republic

Venezuela assumed alternate presidency of OPEC

Representatives of Venezuelan opposition did not attend the dialogue meeting in Dominican Republic, as had been programed. A statement issued Thursday expressed that the opposition did not attend because the presence of the five foreign ministers who monitor the dialogue was not guaranteed.

The Democratic Unity Roundtable, coalition integrated by nearly twenty political parties of the opposition requested that the Venezuelan government unblock several points agreed on January 13th, date of their most recent meeting.

A spokesman of the Caribbean country confirmed that the Foreign Ministers of Bolivia and Nicaragua arrived in Dominican Republic. The Democratic Unity Roundtable reiterated their willingness to dialogue on a different date when certain conditions are guaranteed. Venezuelan government representatives arrived in the afternoon to Dominican Republic.

As this edition went to press a spokesman for the Domican Chancellery informed that they will set a new date “as soon as possible“. The dialogue meeting has six points in debate.

3

The nation´s Minister of Petroleum, Manuel Quevedo, confirmed that Venezuela assumed the alternate presidency of the Organization of the Petroleum Exporting Countries.

The Venezuelan Minister detailed that the official presidency of the block will be held by United Arab Emirates, through its Minister of Energy, Suhail Mohamed Al Mazquei, while the general secretariat will continue being headed by Nigerian Mohammed Barkindo.

Quevedo participated in the seventh meeting of the Ministerial Monitoring Committee that reviews the progress of the global agreement signed in 2016, which removed 1.8 million barrels from the market.

The Monitoring Committee, comprised by Saudi Arabia, Venezuela, Kuwait, Algeria, Oman and Russia met on Sunday in Muscat. www.chavezvive.gob.ve

The 1% grabbed 82% of all wealth created in 2017

"It's hard to find a political or business leader who doesn't say they are worried about inequality. It's even harder to find one who is doing something about it," said Byanyima.

More than $8 of every $10 of wealth created last year went to the richest 1%.

That's according to a new report from Oxfam International, which estimates that the bottom 50% of the world's population saw no increase in wealth.

"Many are actively making things worse by slashing taxes and scrapping labor rights," she added.

Oxfam says the trend shows that the global economy is skewed in favor of the rich, rewarding wealth instead of work.

Oxfam said that governments should focus on policies that would lead to fairer distribution of wealth and stronger workers' rights.

"The billionaire boom is not a sign of a thriving economy but a symptom of a failing economic system," said Winnie Byanyima, executive director of Oxfam International.

These could include introducing a living wage, supporting labor unions and tackling gender discrimination.

The head of the advocacy group argued that the people who "make our clothes, assemble our phones and grow our food" are being exploited in order to enrich corporations and the super wealthy.

Governments also need to tackle tax avoidance and put limits on shareholder returns and executive pay, Oxfam said. The group argues companies should not issue dividends to shareholders unless they pay their workers a living wage.

The study, released ahead of the World Economic Forum in Davos, was produced using data from Credit Suisse's (CS) Global Wealth Databook.

Oxfam also said that tax policies should be used to reduce extreme wealth.

The report also highlights the detrimental effects of gender inequality with data that show more men own land, shares and other capital assets than women.

www.money.cnn.com

The views and opinions expressed in these articles are of the author and do not necessarily reflect the official position of the Embassy

Rising inequality has been a major topic at Davos for years. Oxfam said that it is time for the global elite to stop talking about inequality and start changing their ways.

4

INSIDE AFRICA:

Kenya, Rwanda Lead in Financial Markets Index

Governments and regulators in East Africa are facing a herculean task of expanding and deepening financial markets to spur sustainable economic growth.

In Africa, South Africa has the most vibrant financial markets despite its macroeconomic challenges with Mauritius which has one of the strongest financial legal frameworks as well as a favourable tax environment and market transparency coming second.

A survey of stockmarkets in 17 African countries showed that only Kenya's financial markets rank among the top five leading markets on the continent.

"A vibrant, well-functioning, sound, efficient and stable financial system is a catalyst for broad-based sustainable economic growth and development," said Barclays Bank Kenya managing director Jeremy Awori. He added: "By broadening and deepening their understanding of the requirements of local and international investors, Africa's leaders can develop robust markets - a prime condition for sustainable, inclusive growth."

According to the Africa Financial Markets Index (AFMI) ranking by Barclays Africa Group, although Kenya's financial market is the most advanced in the East African region, it ranks behind South Africa, Mauritius, Botswana and Namibia on the continent. The index, which measures Africa's financial markets based on depth and breadth, access to foreign exchange, transparency, tax and regulations, macro economic opportunity, legality and enforceability, ranks Rwanda at position eight, Uganda at 10 and Tanzania 11.

Challenges The index concludes that the challenges facing the continent's financial markets include fragmentation and little push towards encouraging regional bourses, cross-border listings and harmonised regulatory standards.

Kenya emerged the leading in East Africa due its strong contract enforcement policies, market depth as well as the capacity of local investors. The country also led its East African peers market depth pillar, which focussed on the range of financial products, currencies and hedging options, and capacity of local investors' parameters.

In East Africa, for instance, Kenya has opted out of the regional capital markets project that is part of efforts to establish a single financial market.

Kenya is also ranked ahead of economic giants like Nigeria, Ghana and Egypt due to the ongoing reforms in its financial markets.

Other challenges facing Africa's financial markets include lack of capacity among local investor, lack of access to foreign exchange and low levels of liquidity.

"African financial markets have traditionally suffered from a lack of depth relative to other regions. This has been a key factor holding back the ability of firms and investors within and beyond the continent to exploit expansion opportunities," said Barclays managing director and head of markets, George Asante.

"Development of local investor capacity and ability to attract foreign capital are key points of focus for African economies," notes the index which provides countries with valuable insights and tools to improve the state of their financial markets.

Ethiopia Although Ethiopia is one of the fastest expanding economies in the world, it was at the bottom of the ranking owing to the lack of a securities exchange, minimal local investor capacity and low enforceability of contracts.

www.allafrica.com www.theeastafrican.co.ke The views and opinions expressed in these articles are of the author and do not necessarily reflect the official position of the Embassy

5