<a href=reuters.com>Reuters Mon April 14, 2003 03:33 PM ET (The following statement was released by the ratings agency)

NEW YORK, April 14 - Standard & Poor's Ratings Services said today that it assigned its 'A+' long-term and 'A-1' short-term credit ratings to Fondo Latinoamericano de Reservas (FLAR), Latin American Reserve Fund, whose primary goal is to assist and support the balance of payments of its member countries by granting them short- and medium-term loans. The outlook on the long-term ratings is stable.

"FLAR's ratings are supported by its active membership support, robust public policy role, and strong capital position," said credit analyst Richard Francis. "Its principal shareholders (the Republics of Bolivia, Colombia, Costa Rica, Ecuador, Peru, and the Bolivarian Republic of Venezuela) have consistently honored their obligations to the fund, even while encountering severe economic stress," he added.

According to Mr. Francis, FLAR's members are expected to continue providing it preferred creditor status going forward. "They support the institution because it stands ready to provide inexpensive unsecured dollar financing to member central banks at short notice for balance of payment support," Mr. Francis noted. "Standard & Poor's also expects FLAR to continue its success in expanding its membership beyond the Andean nations, as it has done recently with the accession of Costa Rica," he concluded. Complete ratings information is available to subscribers of RatingsDirect, Standard & Poor's Web-based credit analysis system, at www.ratingsdirect.com. All ratings affected by this rating action can be found on Standard & Poor's public Web site at www.standardandpoors.com; under Fixed Income in the left navigation bar, select Credit Ratings Actions.

<a href=www.vheadline.com>Venezuela's Electronic News Posted: Monday, April 14, 2003 By: Patrick J. O'Donoghue

Venezuela has been experiencing its first rain showers for almost four months.  The showers brought people out in to the streets in Caracas and kept others from venturing out to t he beaches. 

Civil Protection chief, Army Lt. Colonel Antonio Jose Rivero Gonzalez says this year's Easter holiday public security plan, which started on Sunday, includes 7,365 firefighters, 5, 000 traffic police officers, 3,102 Civil Protection officials, 300 members of the Red Cross, 3,717 volunteers and 22,000 police officers. 

Rivero Gonzalez says 2 emergency surgeries have been installed in tourist areas, 24 ambulances in Caracas and 35 throughout Venezuela. "We are expecting around 7 million people traveling away from home to tourist areas. 

The Miranda State government has inaugurated the Guarenas-Casarapa highway skirting the city of Guarenas.  It is a 5.5 kilometer stretch built over a two-year period and costing 11 billion bolivares. Work was delayed when part of the north wall collapsed forcing the company to install walls of contention. 

Venezuelan Air Force (FAV) Meteorological Service (Semetfav) petty officer, Jose Pereira says the showers in Caracas and heavy rains in other parts of the country do not mean that the rainy season has officially started and warns that rains will continue for another 24 hours. 

In Amazonas, Bolivar and the central region rains were heavy.

Meanwhile at the Caracas (Simon Bolivar) international airport at Maiquetia, the flow of passengers is said to be satisfactory, especially on flights to Miami, Orlando, Puerto Rica, Punta Cana (Dominican Republic) and Curacao ... Porlamar (Isla de Margarita) and Maracaibo. 

The most frequented Vargas State beaches are Caraballeda beaches of Los Cocos and Sheraton, while in Carabobo, Patanemo Bay, Ganango, Quizandal, Palma Sola and Puerto Cabello's Playa Blanca are the favorites.  In eastern Venezuela, Mochima Park islands and Carupano beaches are said to be very busy along with El Faro, El Saco and Puinare islands in Puerto La Cruz.

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Our editorial statement reads: VHeadline.com Venezuela is a wholly independent e-publication promoting democracy in its fullest expression and the inalienable  right of all Venezuelans to self-determination and the pursuit of sovereign independence without interference. We seek to shed light on nefarious practices and the corruption which for decades has strangled this South American nation's development and progress. Our declared editorial bias is pro-democracy and pro-Venezuela ... which some may wrongly interpret as anti-American. --  Roy S. Carson, Editor/Publisher  Editor@VHeadline.com

<a href=www.vheadline.com>Venezuela's Electronic News Posted: Monday, April 14, 2003 By: Elio Cequea

VHeadline.com reader Elio Cequea writes: When the UN inspectors were in Iraq looking for chemical weapons and weapons of mass destruction, they could not find anything. President Bush and Secretary of State Colin Powell insisted that the US government "had intelligence reports indicating that Saddam Hussein and his regime had them."

Thus, the war started to "disarm Saddam Hussein and to protect the American people from terrorist attacks." During the war, there was not even one attack with chemicals and the only weapons of mass destruction that we saw were used by the coalition forces "against" Iraq.

• The war is over. Iraqi weapons of mass destruction have not been found yet. The motive for the war now has been changed to "liberate the Iraqi people". Same war, just different motive.

I heard on the radio yesterday that President Bush said at a press conference that he "was confident that weapons will be found." Apparently the intelligence reports given to him and Powell were not complete, and they did not mentioned the location of those weapons. That is why, I guess, the information was never given to the UN inspectors ... either that or he just wanted a good reason to "liberate" Iraq.

I hope, in the name of peace, the reports were incomplete and weapons are found.

On the contrary, and if the US President is the man of principles some people say he is, he should not have trouble finding reasons to "liberate" China, North Korea, Vietnam and Cuba.

If he doesn't try to liberate these countries, it will confirm that the war with Iraq happened just to control the second major oil reserve in the world.

Elio Cequea feico57@aol.com

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Our editorial statement reads: VHeadline.com Venezuela is a wholly independent e-publication promoting democracy in its fullest expression and the inalienable  right of all Venezuelans to self-determination and the pursuit of sovereign independence without interference. We seek to shed light on nefarious practices and the corruption which for decades has strangled this South American nation's development and progress. Our declared editorial bias is pro-democracy and pro-Venezuela ... which some may wrongly interpret as anti-American. --  Roy S. Carson, Editor/Publisher  Editor@VHeadline.com    © 2003 VHeadline.com All Rights Reserved.

<a href=www.vheadline.com>Venezuela's Electronic News Posted: Monday, April 14, 2003 By: Patrick J. O'Donoghue

Closing the "Solidarity with the Bolivarian Revolution" conference, President Hugo Chavez Frias says the event has become a world summit. "In the last four years I have been  to so many world summits and emerged disappointed from almost of all them ... there is a crisis in world summit systems ... there is a world political crisis ... we must return to political leadership." 

• President Chavez Frias also addressed a well-attended political rally of supporters hailing the first anniversary of the return to democracy.

Chavez Frias told his supporters that the Bolivarian Revolution had broken the circle of international isolation and that it would be difficult for opposition domestic media to pull wool over people's eyes. 

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Our editorial statement reads: VHeadline.com Venezuela is a wholly independent e-publication promoting democracy in its fullest expression and the inalienable  right of all Venezuelans to self-determination and the pursuit of sovereign independence without interference. We seek to shed light on nefarious practices and the corruption which for decades has strangled this South American nation's development and progress. Our declared editorial bias is pro-democracy and pro-Venezuela ... which some may wrongly interpret as anti-American. --  Roy S. Carson, Editor/Publisher  Editor@VHeadline.com

<a href=www.vheadline.com>Venezuela's Electronic News Posted: Monday, April 14, 2003 By: Patrick J. O'Donoghue

The famous Chacao Palm-Collectors (Palmeros)  have ushered in Caracas Holy Week religious ceremonies delivering palms to Caracas churches. 137 members of the organization spent 48 hours in the Avila hills cutting a total 500 palm trees in compliance with stricter Environment & Renewable Resources (MARNR) regulations. 

The palms were carried in procession and blessed at the San Jose de Chacao Church during the traditional Palm Sunday religious service. 

The palm-collecting tradition started 235 years ago and the Palmeros have become a religious confraternity led by Palmero Mayor Ramon Delgado. 

Mayor Leopoldo Lopez attended the coming down and put on the traditional a musical festival to accompany the Palmeros to church. The procession stopped at the barrio where most members live to render homage to deceased members.

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Our editorial statement reads: VHeadline.com Venezuela is a wholly independent e-publication promoting democracy in its fullest expression and the inalienable  right of all Venezuelans to self-determination and the pursuit of sovereign independence without interference. We seek to shed light on nefarious practices and the corruption which for decades has strangled this South American nation's development and progress. Our declared editorial bias is pro-democracy and pro-Venezuela ... which some may wrongly interpret as anti-American. --  Roy S. Carson, Editor/Publisher  Editor@VHeadline.com