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A new K-A policy analysis released today argues that under the government of Hugo Chavez,

mismanagement and abuse of power have allowed corruption in Venezuela to reach unprecedented levels.

Gustavo Coronel, a member of the first board of directors of Petrolios Venezuela and former

Venezuelan representative to Transparency International International writes that billions of

dollars are being stolen or are otherwise unaccounted for squandering Venezuelan resources

and enriching high-level officials and their cronies.

Gustavo discusses his study in today's podcast.

Is there a notable difference in the level of corruption in Venezuela under Hugo Chavez?

Yes, under Hugo Chavez, the level of corruption in Venezuela is greater than ever before.

And this is due to the fact that now there is much more money coming into the government coffers and little accountability, little transparency.

Can you tell me a little bit more about that corruption?

What exactly is going on?

Yes.

Well corruption you might say nowadays has become more

democratic in the sense that before it was reduced to the small group in power but

now it has overflowowed into more Venezuelans, poor Venezuelans, because Chavez has

based his social policies in handouts.

He's giving enormous amounts of money to the Venezuelan poor,

except that this money only gives them a temporary illusion of prosperity because it's not going to solve the structural problems of poverty.

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