Fitch Ratings dubious about Chávez capacity to manage fiscal deficit
The firm said, "Considerable uncertainty remains over the government's ability to rein in the fiscal deficit, while at the same time maintaining economic growth and fighting inflation"
Credit risk firm Fitch Ratings said on Monday that upon the reelection of Venezuelan President Hugo Chávez on Sunday, there are many concerns about the capability of Venezuela to manage its fiscal deficit.
"The re-elected Government faces a challenge in adjusting its exchange rate policy, and considerable uncertainty remains over the government's ability to rein in the fiscal deficit, while at the same time maintaining economic growth and fighting inflation," informed Fitch in a statement cited by Reuters.
The firm warned that if adjustments to the country's economic policies are not made, the number of debts owned by the Government is likely to increase.
Translated by Jhean Cabrera
José Vicente Rangel clearly said: "We are not conducting negotiations threatened with a gun in the head." He warned behind closed doors in the midst of the social upheaval occurred during the oil strike in 2002 and 2003. Dissenting Timoteo Zambrano answered back that no other option was available: "The thing is that otherwise, you do not negotiate."