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(单词翻译:双击或拖选)
Two Presidents, Too Little Food for Venezuelans
The United States says recognition of opposition1 leader Juan Guaido as Venezuela’s interim2 president is the only way to restore democracy in that country. Russia and China, however, continue to support President Nicolas Maduro.
Venezuelan Elizabeth Pineda is preparing for things to get even worse. A retiree, Pineda receives a monthly retirement3 pay of 18,000 bolivars, or about $6. She also earns money as a fortune teller4, telling people what she sees in their future. And, she says, the future is telling her that President Nicolas Maduro will not leave quickly or quietly.
“The government is going to strangle us even more with their bad decisions and shamelessness,” Pineda said while sharing a meal with two friends. The food cost under two dollars. But, the three friends said they did not have enough money individually to buy it.
Economists6 agree that Venezuelans are likely to suffer as the current situation between Guaido and Maduro continues.
Maduro appears to have the support of the country’s military. He has accused the U.S. and Guaido of plotting to overthrow7 him. Maduro says the U.S. then led other nations to recognize Guaido as Venezuela’s leader.
That makes it very hard for Maduro’s government to get and control its oil money and holdings overseas. The U.S.-based oil company Citgo is a subsidiary of Venezuela’s national oil company PDVSA. And Venezuela has $1.2 billion in gold in the Bank of England.
Maduro was elected to a second six-year term in hotly disputed elections held last May. Many opposition candidates were barred from competing for the office. Opposition parties boycotted8 the voting as a result. And the country’s National Assembly did not recognize the results.
Over the weekend, some European Union nations threatened to recognize Guaido as interim president if Maduro does not announce new elections soon.
Francisco Rodriguez is chief economist5 of New York-based Torino Capital. He said, “If Maduro stays in power, Venezuela could suffer a humanitarian9 catastrophe10.”
Rodriguez compared the situation in Venezuela to what happened to Libya in 2011. At that time, the U.S. government froze Libya’s assets in answer to Libya’s campaign against protesters during the Arab Spring uprising. The U.S. action led to a more than 70 percent drop in the North African country’s oil production.
Venezuela has one of the world’s largest oil reserves. But its current oil production is only one third of what it was when the late Hugo Chavez took power in 1999.
The country currently sells 500,000 oil barrels a day to processors in the U.S. Without the U.S. market, the Maduro government can sell them to friendly countries like Russia and China, or even India, Malaysia and Thailand.
Maduro is still supported by China and Russia. Both would likely veto any international restrictions11 proposed by the U.N. Security Council. But processing international payments is difficult without American or European banks. And the cost of oil shipping12 would be much higher to more distant markets.
Venezuela depends almost entirely13 on oil exports for money. This means there will be even less money for food. The country of 29 million people is already facing a severe economic crisis and food shortage.
Russ Dallen is with the investment bank Caracas Capital. He said a loss of fast money from Citgo and the U.S. market will crush already weakened oil production in Venezuela. The country’s economy would shrink and inflation will rise, he said, leading to “more starvation and more people fleeing the country.”
For Elizabeth Pineda, the workings of the economy make little sense. But to remove Maduro from leadership, she said, “We’re ready to eat bread and water if we have to.”
Words in This Story
interim - adj. accepted for a limited time, not permanent
shamelessness - n. having or showing no shame
subsidiary - n. a company that is owned or controlled by another one
assets - n. something that is owned by a person, company, country... (usually plural)
reserve - n. a supply of something that is stored
1 opposition | |
n.反对,敌对 | |
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2 interim | |
adj.暂时的,临时的;n.间歇,过渡期间 | |
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3 retirement | |
n.退休,退职 | |
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4 teller | |
n.银行出纳员;(选举)计票员 | |
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5 economist | |
n.经济学家,经济专家,节俭的人 | |
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6 economists | |
n.经济学家,经济专家( economist的名词复数 ) | |
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7 overthrow | |
v.推翻,打倒,颠覆;n.推翻,瓦解,颠覆 | |
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8 boycotted | |
抵制,拒绝参加( boycott的过去式和过去分词 ) | |
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9 humanitarian | |
n.人道主义者,博爱者,基督凡人论者 | |
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10 catastrophe | |
n.大灾难,大祸 | |
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11 restrictions | |
约束( restriction的名词复数 ); 管制; 制约因素; 带限制性的条件(或规则) | |
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12 shipping | |
n.船运(发货,运输,乘船) | |
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13 entirely | |
ad.全部地,完整地;完全地,彻底地 | |
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14 weaver | |
n.织布工;编织者 | |
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