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Venezuela bondholders inch toward showdown

Friday, June 16, 2017

Venezuelan Congress Says $200 Million Wasted on Low-Income Food Packs

The congress' inspection commission said in a preliminary report that between January and June the government bought 7 million boxes of basic foods like rice and cooking oil imported from Mexico by middlemen, paying 55 percent above market prices. The commission said the over-pricing of the food boxes known as Claps was deliberate and called it corruption. "This government is addicted to corruption. Not even the hunger of Venezuelans stops it creating new ways to steal," lawmaker Carlos Paparoni said in the report. More…

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