AS/COA Online | Interview: Patrick Esteruelas on Venezuela's Oil-Based Economy

“As much as a victory would buy Chávez a new lease on life, a defeat could end up being the most costly policy mistake he’s made in over ten years in office.”

In an AS/COA interview, Patrick Esteruelas, a specialist in the Andean region with Eurasia Group’s Latin America practice, about the effects of the dropping price of oil on Venezuela’s economy.  “Venezuela can count on a sizeable cushion of reserves and foreign exchange liquid assets to help it ride the current economic down cycle,” he tells AS/COA Online's Managing Editor Carin Zissis. “But not for very long.” Esteruelas also talks about the reasons behind President Hugo Chávez's decision to hold a referendum on the elimination of presidential term limits in February.

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