Economics
Ross Maps Sweeping Venezuela Plan Even as Maduro Refuses to Go
- Venezuela needs modern electricity, gas and sewage, Ross says
- Calls for long-term IMF deals and free political elections
Wilbur Ross speaks in Brazil on Aug. 1.
Photographer: Andre Coelho/Bloomberg
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U.S. Commerce Secretary Wilbur Ross set out plans for an alternative, pro-business Venezuela, as Washington continues to step up efforts to push for the departure of President Nicolas Maduro.
Speaking in Brasilia to executives from across Latin America, Ross said the Caribbean nation needs to open to private investments in sectors including electricity, gas, sewage and transportation. Venezuela will require long-term financing deals with the International Monetary Fund and free elections, Ross said. The country’s central bank, which “has been looted,” will have to be overhauled.