www.vheadline.com Posted: Thursday, February 27, 2003 By: Robert Rudnicki

According to Planning & Development (Cordiplan) Minister Felipe Perez the government is considering changing the current exchange rate of the bolivar, which is pegged at Bs.1,600.00 / Bs.1,596.00 against the US dollar. "We are studying the possibility, we will have 15 days to evaluate and to modify the exchange rate."

• Another option that the government is believed to be considering is changing the rate on a weekly basis under a crawling peg regime. 

Dollars will soon be available through seven privately-owned banks following the signing of currency accords with the Currency Administration Commission (Cadivi) with around $40 million likely to be offered every day. Cadivi president Edgar Hernandez Behrens says he expects dollar applications considered to be priority to begin to be processed early next week.

www.vheadline.com Posted: Thursday, February 27, 2003 By: Robert Rudnicki

Infrastructure (Minfra) Minister Diosdado Cabello has announced that investigations into Globovision and RCTV are the most advanced out of the several similar investigations launched several weeks ago into privately-owned TV stations accused of breaking broadcasting regulations by screening violence at inappropriate times and refusing to show commercials, instead broadcasting opposition advertisements.

However, the Minister refused to give a date when the investigations may be completed by, saying only that the Ministry has 120 days in which to come to its conclusion regarding the probe. before having to announce its findings.

If the stations are found to be in breach of regulations then they could face stiff fines, a suspension of their licenses or the complete withdrawal of the broadcasting rights.

www.vheadline.com Posted: Thursday, February 27, 2003 By: Robert Rudnicki

The 50th Control Court has ordered the arrest of seven ex-Petroleos de Venezuela (PDVSA) managers following an application for their detention by the Attorney General's office. Public prosecutors Jose Benigno Rojas and Gledys Carpio formally requested the detention of Juan Fernandez, Horacio Medina, Lino Carillo, Mireya Rinfanti, Gonzalo Feijoo, Edgar Quijano and Juan Luis Santana. 

The arrest orders come several days after the Attorney General's Office announced that it was planning to assess whether or not sufficient grounds exist to have the oil strike leaders arrested for treason and the damage they helped inflict on the nation's petroleum industry. 

The group's lawyer, Juan Martin Echeverria insists they are being persecuted by the government and that the actions are politically motivated with no legal basis.

www.vheadline.com Posted: Thursday, February 27, 2003 By: Robert Rudnicki

A march by opposition supporters through the streets of Caracas has forced the postponement of Organization of American States (OAS) led peace negotiations which had been scheduled to restart in the afternoon after being suspended last week due to OAS secretary general Cesar Gaviria's previous commitments. 

The talks had to be postponed as thousands of marchers protested outside the Gran Melia de Caracas hotel where talks have been taking place.

The negotiations are now expected to restart today, Thursday, with opposition and government negotiators likely to discuss the arrest of Venezuelan Federation of Chambers of Commerce & Industry (Fedecamaras) president Carlos Fernandez and the arrest order for Confederation of Trade Unions (CTV) president Carlos Ortega, as well as the arrest orders for seven Petroleos de Venezuela (PDVSA) rebels who are leading the ongoing strike action.

Opposition leaders claim the government has gone back on last week's no-violence agreement, but government officials insist the arrests are lawful.

www.vheadline.com Posted: Thursday, February 27, 2003 By: Robert Rudnicki

The United States embassy in Caracas will not be opening today due to a security alert following the bombings of Colombian and Spanish diplomatic missions this week. An embassy statement said "the US embassy in Caracas has received a credible threat to its security and will be closed to the public on Thursday, February 27, 2003."

Exact details of the threat were not made available, but the embassy is expected to open again normally on Friday this week.

• Security measures have been stepped up at many diplomatic buildings in Caracas, as the government seeks to reassure foreign diplomats about possible safety risks.

Opposition leaders have accused government supporters of the attacks, while government members are blaming sections of the opposition looking to further damage the government's international reputation.