THE AMERICAN JOURNAL

Anger as Chavez devalues bolivar

IAN JAMES
Published: 2010/01/11 06:38:15 AM

REUTERS

 PRESIDENT Hugo Chavez’s decision to devalue Venezuela’s currency for the first time in nearly five years aims to stretch oil earnings further and counter a recession by increasing government spending.

 The devaluation of the bolivar lessens a wide gap with the black- market exchange rate for dollars and will unavoidably push inflation — already the highest in Latin America at 25% — to even higher levels

Read more: Business Day

Advertisements

January 11, 2010 - Posted by | Uncategorized | , ,

No comments yet.

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: