Chavez is recovering from an undisclosed
Chavez signed the measure into ray ban sunglasses outlet top online store soon after, meaning it will come into force on publication in the Official Gazette. Opposition leaders, however, say such deals threaten to leave the country overly indebted. "This has taken us back towards the colonial era," stated opposition lawmaker Americo De Grazia. "As a outcome of this fund, we're placing our future into debt - not just our future but that of our children and grandchildren." Critics point out that state ray ban sunglasses outlet company PDVSA already has to send 430,000 barrels per day of crude oil and products to cover its debts with China, which have reached $32 billion. The financing includes 3 $4 billion loans in addition to a separate $20 billion lending package agreed in 2010. Seeking to finance an explosion in state spending on social programs including home construction and cash stipends to poor mothers, Venezuela and state oil business PDVSA also sold $17 billion in bonds in 2011 despite a surge in cheapoakleysunglasses. Chavez is recovering from an undisclosed type of cancer that has left him unable to carry on his usually loquacious public appearances and televised speeches. Without his usually dominant presence, his government will most likely need to spend even greater amounts on social projects to shore up support amongst wavering sympathizers, analysts say. The country's total debt including domestic issues has reached $79.3 billion, making it expensive to continue borrowing from international capital markets. Venezuelan bonds are among the highest-yielding debt tracked by JPMorgan's main emerging market bond index, with spreads more than 1,000 basis points above comparable U.S. Treasury bills and some securities yielding much more than 12 percent. Venezuelan yields top even those of Pakistan, that is battling Taliban insurgents and struggling to maintain its public finances intact. PDVSA this month confirmed a bond issue of $3 billion in a private provide for the central bank and other state banks, that is mainly intended to supply the Sitme foreign exchange system. PDVSA has long been the financial motor of Chavez's self-styled "revolution" in the nation of 29 million people, financing oakley sunglasses cheap top designer tr7873 from new houses and subsidized food to free healthcare and schools in slums.