Venezuelan Bonds Rated the Highest Risk in the World

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Venezuelan state bonds are now rated the highest risk to insure against default. The second highest risk is Argentina. The third highest risk is Pakistan. It costs $950 thousand per year to insure a $10 million Venezuelan bond. This is 9.5 % of the bond value.

http://www.eluniversal.com/2010/04/06/eco_ava_califican-la-deuda-d_06A3696691.shtml

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1. Venezuelanalysis Economy Website

it has some interesting articles

http://venezuelanalysis.com/features/economy

But the most recent one is from mid 2009. They do have a pretty informative article in the other section about the deal Venezuela made with Uruguay this week

http://venezuelanalysis.com/news/5255

Through the Caracas Energy Cooperation Agreement, originally signed in 2005, Uruguay will now receive more than 40,000 barrels of oil per day. As part of the deal, Uruguay will pay a quarter of the cost over the course of fifteen years, with a two-year grace period and two percent interest rate.

In return for supplying energy to Uruguay, Venezuela will receive scientific, technical, and financial assistance to augment its food production, and will also import 180 metric tons of Uruguayan chicken per month.

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I put my pencil to this deal, and it looks like we give Uruguay a subsidy via the two year grace period of $5,8 million USD per month, and in return they send us chicken worth $350,000 USD per month. So over a one year period we seem to be giving away at least $66 million per year.
I wonder if we can't get discounts in Uruguayan hotels for Venezuelans, when we're being so incredibly nice to them?