09 Feb '13, 3am

Acerca de la devaluación anunciada hace pocas horas. Leer artículo y comentarios por favor ==>

Acerca de la devaluación anunciada hace pocas horas. Leer artículo y comentarios por favor ==>

Venezuela devalued its currency for the fifth time in nine years as ailing President Hugo Chavez seeks to narrow a widening fiscal gap and reduce a shortage of dollars in the economy. The government will weaken the exchange rate by 32 percent to 6.3 bolivars per dollar, Finance Minister Jorge Giordani told reporters today in Caracas. The government will keep the currency at 4.3 per dollar for some products, he said. A spending spree that almost tripled the government’s fiscal deficit last year helped Chavez win his third term. Chavez ordered the devaluation from Cuba, where he is recovering from cancer surgery, Giordani said. Venezuela’s fiscal deficit widened to 11 percent of gross domestic product last year from 4 percent in 2011, according to Moody’s Investors Service. The move can help narrow the budget deficit by increasing the amount of bolivars the government gets f...

Full article: http://peakoil.com/publicpolicy/venezuela-launches-first-...

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