http://dailynews.yahoo.com/headlines/tc/story.html?s=v/nm/19990526/tc/yk_venezuela_1.html

Wednesday May 26 4:18 PM ET

Venezuela Faces $1.5 Billion Y2K Computer Problem

CARACAS (Reuters) - Venezuela needs to spend $1.5 billion in an effort to prevent possible computer chaos coinciding with the change to the year 2000, with the nation's electrical system particularly vulnerable, senior officials said Wednesday.

Presidential Chief of Staff Alfredo Pena said the previous government, which left office in February, made absolutely no preparations for a problem that requires urgent attention.

``We are very behind and it is very, very serious. We need $1.5 billion for this, which was not approved by the previous government,'' Pena told journalists at the Miraflores presidential palace.

The government of President Hugo Chavez already is struggling to deal with a $5 billion fiscal deficit, equivalent to about 5 percent of gross domestic product.

State-run oil company Petroleos de Venezuela, the world's third-largest oil exporter, was aware of the so-called Y2K bug, Pena added, and made progress in preparing its computers for possible errors caused by the date change. But Pena said the electricity sector was very vulnerable.

``Public services could be paralyzed, mainly because of problems with electricity,'' he said.

The head of the government Central Office of Statistics and Computing, Gustavo Mendez, said Venezuela was one of the least well-prepared countries in the world.

The World Bank and InterAmerican Development Bank have just $200 million in loans available worldwide to help solve the problem, Mendez added.

-- Arlin H. Adams (ahadams@ix.netcom.com), May 27, 1999

Answers

Thanks, Arlin. There's a good thread on this subject with commentary from an oil industry analyst over on euy2k bboard.

hot link to thread

-- Dan Webster (cantsp@m.me), May 27, 1999.

Thanks Arlin. Nice catch. If thats the case in Venezuela then what about here at home? Makes one think does it not. Justhinkin

-- justthinkin com (y2k@justthink.com), May 27, 1999.

"...the world's third-largest oil exporter..."

*Another Big Sigh*

Diane

-- Diane J. Squire (sacredspaces@yahoo.com), May 27, 1999.

Another example of the y2k world. How many times have I heard the statement that "we will be ready but we are worried about the rest of the world"?

Now if that sentance were finished, it would say" we will be ready but we are worried about the rest of the world because if they are not ready we are screwed".

But so what. America is the Titanic. At least other countries admit to problems. 2-3 days! We don't even need lifeboats.

Thanks Arlin

-- Mike Lang (webflier@erols.com), May 27, 1999.