Skip to main content
Black Listed News

Venezuelan devaluation sparks panic...

Published: February 11, 2013
Share | Print This


Source: FT
 
Panic buyers thronged Venezuelan shops over the carnival weekend after the government of Hugo Chávez announced a surprise devaluation that analysts said was overdue but would only partly right the listing economy.
 
Domestic appliances such as fridges and cookers were in particularly high demand as Venezuelans snapped up goods imported at the now defunct exchange rate of 4.3 bolívars per dollar. From now on they will be imported at 6.3 bolívars per dollar. 

Opposition politicians seized on what is Venezuela’s fifth devaluation since strict currency controls were introduced in 2003, criticising the socialist government for springing an International Monetary Fund-style adjustment package on the country, and quietly announcing it on Friday while people headed for the beach over the holiday.
 
Read More...

Share This Article...



Connect With Us:
Free Newsletter
Blacklisted Radio
Blacklisted Nation
On Twitter
On Facebook
Podcasts on Demand
Podcasts on Spreaker
Podcasts on Youtube
Podcasts on iTunes
Podcasts on Tunein
Podcasts on Roku

Support Us
Donate Today!

Affiliates
Laverdad Cigars
Beat The Fed
Shop Amazon
Golden Eagle Coins
DHGATE.COM
Chameleon John Coupons
Discountrue




Calling for Contributors!

Got something to say?
We want to hear from you.

Submit your article contributions and participate in the world's largest independent online news community today!

Contact us today!







BlackListed News 2006-2015