CARACAS, Friday November 07, 2008 | Update
Economy
The Fifth Venezuela-Russia Intergovernmental Commission reviewed
the agreements between the two countries. In that context,
both parties were refining the organization of a binational
bank.
Venezuela's Minister of Economy and Finance Alí Rodríguez
Araque met on Thursday with Russian delegates to prepare to
initial a Memorandum of Understanding that provides for the
creation of the institution. The capital of the bank is still
under evaluation.
The entity would be responsible for addressing some of the
projects being developed by the two countries. Rodríguez
Araque said that "while there are some projects underway,
there are other projects that will require credit lines."
11:00 AM. Economy. Based on the official data, more and more families failed to get out of poverty in 2008; the exclusion status of more people moved faster and fewer people are on their way to overcome this situation. According to the data provided by the official National Statistics Institute (INE), last year the poorest homes in the country recorded an average monthly income of USD 401.82, whereas the food basket amounted to 417.77