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Venezuelan opposition warns foreign contracts need assembly's OK
Source: Reuters
World | Thu May 26, 2016 5:30pm EDT
Venezuelan opposition warns foreign contracts need assembly's OK
Venezuela's opposition-led National Assembly on Thursday warned that contracts signed between the leftist government and foreign companies without lawmakers' approval would be null.
President Nicolas Maduro this month declared an economic emergency and state of emergency that lets his administration sign contracts without Congress' approval.
The assembly's warning, though is not backed by legislation, is likely to create concern among foreign businesses that are seeking remain in the good graces of both the socialist government and opposition adversaries who control Congress.
"We're going to tell all the embassies that the only valid contracts are those reviewed by the National Assembly," its President Henry Ramos said. "Contracts that weren't approved by the assembly will lack validity in this government as well as the following one."
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Venezuelan opposition warns foreign contracts need assembly's OK
Venezuela's opposition-led National Assembly on Thursday warned that contracts signed between the leftist government and foreign companies without lawmakers' approval would be null.
President Nicolas Maduro this month declared an economic emergency and state of emergency that lets his administration sign contracts without Congress' approval.
The assembly's warning, though is not backed by legislation, is likely to create concern among foreign businesses that are seeking remain in the good graces of both the socialist government and opposition adversaries who control Congress.
"We're going to tell all the embassies that the only valid contracts are those reviewed by the National Assembly," its President Henry Ramos said. "Contracts that weren't approved by the assembly will lack validity in this government as well as the following one."
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Read more: http://www.reuters.com/article/us-venezuela-politics-idUSKCN0YH2L9
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