Caracas, Capital District: Speaking from the Miraflores Presidential Palace, Venezuelan President Hugo Chavez Frias has characterized a ceremony on indexed loans as "an act of justice and social equality."

The meeting was attended by numerous people who have been affected by these indexed loans, some at the time of purchasing their homes and many were even charged interest over interest.

• Venezuela's Supreme Court (TSJ) had issued a ruling banning indexed loans, however, several banking entities refuse to comply with said decision.

The Venezuelan Head of State appointed a commission to study and solve the issue as soon as possible. Members of the committee include Bank and Other Financial Institutions superintendent Trino Alcides Diaz; the president of the Institute for the Defense & Education of Consumers & Users Samuel Ruh; Asodeviprilara president Gaston Saldivia and National Assembly (AN) deputy Dario Vivas.

The President urged all those people who filed their complaints to be patient. Some people were unable to obtain their loans because they appear as doubtful on the screen of the Risk Information System (SICRI). He recalled how his government fought hard to honor social debt by using legal tools such as the Land and Agrarian Development Law, the Hydocarbons Law, the Fishing & Aquiculture Law and others which were created when the Enabling Law (was passed on March 29, 1999).

• According the President, these legal instruments are aimed at doing justice by those who have been excluded.

During his speech, the Venezuelan leader stressed the importance of having a multipolar world, evidence of this was the summit he held with Brazilian President Luiz Inacio Lula da Silva; Colombian President Alvaro Uribe Velez and Spanish Prime Minister Jose Luis Rodriguez Zapatero.

In this regard, Chavez said that Chilean President Ricardo Lagos is expected to visit the country soon and Venezuela is scheduled to participate in the Arab and Latin American Presidential Meeting of Nations in Brasilia, Brazil, in which 12 South American countries and 22 Arab countries are expected to attend.

Furthermore, President Chávez announced that the current Housing & Habitat Ministry, led by Julio Montes, will be turned into an autonomous office to facilitate the housing projects underway in the country.

• (Translated by Armando Núñez)

President Hugo Chavez Frias meets supporters of his government reforms