Antigua Observer:- A management and development consultant has suggested that it is time for the region to sever ties with Venezuela.
Melanius Alphonse said the current political unrest in Venezuela will have dire economic consequences on the chain of islands that make up the Caribbean.
“If is better if we can cut our losses right now,” Alphonse said.
According to the social commentator, the social, political and economic demise of Venezuela has already happened and the Caribbean could “find itself in a lot of trouble” if it does not cut loose now.
Over the past few years, Venezuela has stretched its hands out to provide various forms of assistance to many countries in the region.
Antigua & Barbuda is tied to that country through the Petro Caribe Agreement, as well as other pledges to help the twin island state with housing and other infrastructure.
Venezuela has also invested in the West Indies Oil Company Limited (WIOC).
Alphonse also noted unless the prices of oil increases over the next year or so funding for many of these social programme in the region will dry up.
“Where is the money going to come from? Venezuela is broke. They hardly have the money for food, How are they going to give us 2,000 houses in five years? How are they going to pay for our oil,” Alphonse queried