CARACAS, Monday January 21, 2013 | Update
PUBLIC FINANCE | According to former finance minister

Deputy forecasts forex rate adjustment in Venezuela

Economic reforms are expected this year, and ministers will gradually announce them

Monday January 21, 2013  03:04 PM
Speaker of the Latin American Parliament Rodrigo Cabezas informed that some economic adjustments are to be implemented in 2013 in Venezuela. The actions will be announced gradually by the relevant ministers.

Adjustments may include changes in the price of some goods and services, and the foreign exchange rate, as well as some fiscal reforms and steps to curb speculation.

The former finance minister pointed out that "the main goal is to preserve economic growth as it is vital for economic policy-making."

The deputy also suggested that devaluation should be used as a tool to improve the competitiveness of the Venezuelan economy in the international arena through industrialization.

Translated by Jhean Cabrera
This is all there is

A simple reason: there is oil galore, would suffice to explain Guyana's actions. Another explanation lies in the little or none efforts made by the Venezuelan government to thwart the move by the Guyanese. This is certainly not a new problem, but a problem only recently highlighted because oil is involved. But what other resources does the disputed area hold? For most of us it is a section on the map with black and white stripes on it, a depiction of something distant, alien, a nothingness not worth paying much attention to in geography classes back in elementary school.

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