I am a Chavista

Every Friday morning The Economist drops through my letter box. It seems every single edition I have ever read has an article on Hugo Chavez, the president of Venezuela. They are completely obsessed with him.

Now they'll have even more to write about because Chavez has pulled his country out of the International Monetary Fund and the World Bank.

"We will no longer have to go to Washington, nor to the IMF, nor to the World Bank, not to anyone," said Mr Chavez. "I want to formalise our exit from the World Bank and the IMF."

b

Despite Venezuela's close trading relationship with the US over oil - it is the fourth largest supplier of crude in the United States - Mr Chavez has been critical of US interference in Latin America.

b

Venezuela recently repaid its remaining debts to the World Bank five years ahead of schedule and paid off its debts to the IMF shortly after Mr Chavez first took office in 1999.

b

Chavez has also invested millions of dollars on social programmes inside Venezuela that have reduced poverty and increased access to education and healthcare.

b

Mark Weisbrot, director of the Washington-based Centre for Economic Policy Research, said "The IMF is not really an independent actor. I don't think there's anyone in this town who would tell you with a straight face that it is not controlled by the US Treasury".