Venezuela: Progressing pn Its Own

One country was conspicuous by its absence from the list of nations receiving increased Alianza aid: Venezuela. With its close cooperation between government and industry (see WORLD BUSINESS), the oil-rich nation is in the happy position of not needing massive infusions of U.S. dollars; in the judgment of economists, it is already past the takeoff point and able to generate its own momentum for progress. The proof? While President Johnson was speaking in Washington last week, Venezuela's President Raul Leoni went be fore his Congress in Caracas to announce a four-year, $850 million public spending project.

The program, supplementing Venezuela's...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!