Project financing is made possible by renewed oil sales, the Canadian journalist pointed out.

During an interview with teleSUR on Sunday, Arnold August, a Montreal-based journalist specializing in Latin American and Caribbean politics, commented on the importance of the first Popular Consultation of 2026 held in Venezuela.

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Organized into 5,336 communal circuits, Venezuelans selected territorial development projects from 36,000 proposals that had previously been debated in urban and rural communal assemblies.

Within these forms of grassroots organization, citizens had earlier identified their needs and defined projects related to issues such as infrastructure, health, public services, production, and the environment.

“This consultation is of extreme importance not only for Venezuela. It has an important geopolitical impact given what is taking place in this South American country,” August said, framing the significance of the consultation by referring to the political situation following the kidnapping of President Nicolas Maduro and first lady Cilia Flores.

The text reads, “Venezuela experienced a historic day with record participation in the Popular Consultation, where the people chose communal projects to build well-being from their territory, demonstrating great national unity.”

More specifically, August began by dismissing criticism regarding Venezuelan Acting President Delcy Rodriguez’s oil sales policy. Certain sectors that identify themselves as “leftist” have criticized her approach, arguing that it has loosened restrictions on oil sales.

In response, August recalled that the Bolivarian nation has always been willing to supply oil to international markets but that “it was the U.S. that stopped buying oil from Venezuela.”

At present, thanks to the resumption of oil sales to the U.S. and other countries, Venezuela has the possibility of financing its local territorial development projects.

“What is happening today is very important… tens of thousands of people are discussing what their communities need. Then, of course, the question arises of how to finance the options… Where does the money come from?”

The Canadian analyst emphasized that project financing can now effectively be secured thanks to the “very flexible, farsighted attitude by Delcy Rodriguez,” which has allowed Venezuela to negotiate its oil with other countries.

“It’s a result of this that the people can happily say today, ‘we want this project’ and the funds are available. If it was not for this flexible attitude, which goes back a long time, by the way, they would not have the funds to be allocated today for those projects on which the people have decided upon,” August said.

teleSUR/ JF

Source: teleSUR

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