Venezuela with the poorest business climate in the region
The Economic Climate Index (ECI) improved in Latin America
The indicator hit the same level as in April and way above the 4.4 points reported in October 2011, when it dropped to its lowest level since the world crisis of 2008.
The quarterly index includes assessments made by 140 experts from 18 countries.
The improvement in the business climate in the region came amidst a worsening of the world Economic Climate Index stemming from the global crisis. Globally, the ECI slipped from 5.2 in April to 4.7 in July and 4.6 in October.
In details, the business climate is better and more favorable in Bolivia, Brazil, Chile, Colombia, and Paraguay. In Peru and Paraguay, the index did not improve, yet it remained favorable. Other countries reported improvements between July-October. However, the business climate continues being unfavorable in Argentina and stable in Mexico, Ecuador, and Venezuela, whose business climate index was 3.4 points, compared to 4.9 points in Mexico and Ecuador.
José Vicente Rangel clearly said: "We are not conducting negotiations threatened with a gun in the head." He warned behind closed doors in the midst of the social upheaval occurred during the oil strike in 2002 and 2003. Dissenting Timoteo Zambrano answered back that no other option was available: "The thing is that otherwise, you do not negotiate."