ESPACIO PUBLICITARIO
CARACAS, Thursday January 31, 2013 | Update
 
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FOREIGN EXCHANGE

Venezuelan gov't speeds up forex for the production sector

The Official Gazette 40,101, released on Thursday, contains a related resolution from the Ministry of Planning and Finance

EL UNIVERSAL
Thursday January 31, 2013  12:14 PM
Venezuelan government authorities took action to energize the steps to apportion foreign currency among the companies of the domestic production sector.

The Official Gazette 40,101, released on Thursday, contains a related resolution from the Ministry of Planning and Finance.

The resolution lists tariff codes connected with the measure.

According to the official journal, capital goods, input and raw materials imported by companies from the Venezuelan production and processing sectors up to USD 50,000 will be benefited with the measure.
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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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