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Analysis: Economy

Maduro Wins Narrowly on Chávez Record; Close Election is a Wake-up Call for the Government

Nicolas Maduro making his victory speech (MARCOS COLINA/P. MIRAFLORES/P. PRESIDENCIAL)

After a short but bitterly fought, insult-laden campaign, Chávista standard-bearer Nicolás Maduro defeated challenger Henrique Capriles, thus assuring continuity in Venezuela after the death of the former president, Hugo Chávez, last month. But the election was much closer than the polls predicted: a margin of just 1.6%, or about 275,000 votes.

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Hugo Chávez and the Bolivarian Revolution: Legacy and Challenges

An image of Hugo Chavez at a recent memorial event in Mérida, Venezuela (Ewan Robertson /Venezuelanalysis.com)

The death of Venezuelan President Hugo Chávez has prompted the international left to acknowledge two key features about him and Venezuela's Bolivarian Revolution, writes Manuel Larrabure.

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Venezuelan Economic and Social Performance Under Hugo Chávez, in Graphs

Source: Banco Central de Venezuela

On Tuesday, Venezuelan president Hugo Chávez passed away after 14 years in office. Below is a series of graphs that illustrate the economic and social changes that have taken place in Venezuela during this time period.

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Venezuela's Devaluation Doom-mongers

Venezuela has changed the fixed exchange rate from 4.30 bolivars to the dollar to 6.30 bolivars to the dollar (Jorge Silva/Reute

Venezuela's recent devaluation has sparked quite a bit of discussion in the international press. The Venezuelan opposition has naturally framed it as desperate move to head off inevitable economic collapse.

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Chávez Haters Not “Limited by Truth, Reality or Common Sense”

Venezuela's President Hugo Chavez during a campaign rally in Guarenas, Venezuela, Saturday, Sept. 29, 2012. (Rodrigo Abd/AP

new op-ed in the Guardian by Ricardo Hausmann portrays a dystopian fictional Venezuela, one in which the Venezuelan government has run the economy into the ground despite abundant oil wealth, but yet its charismatic president continues to be re-elected through some sort of sinister trickery.

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We’re Not Going to Allow Shortages or Messing with Prices

Indepabis president Consuelo Cerrada (archive)

The Venezuelan government continues its fight against price speculation, hoarding and sporadic shortages of certain products. Venezuelanalysis.com translates this interview with the president of Indepabis, the government’s consumer protection body charged with inspecting businesses and ensuring that companies abide by laws on price controls and other measures to guarantee the population’s access to goods and services.

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Venezuela: Notes on the Monetary Measures

(archive)

No devaluation is socially neutral, because of the dragging effect, where what Marx said is verified: all traders are potential speculators.

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Gauging Two of South America's Biggest Economies (+ Video)

What does a devalued currency in Venezuela and a supermarket price freeze in Argentina mean for the two nations?

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Devaluation, Consumerism, and the Media

Venezuelans wait in line to buy Chinese Haier brand products subsidized by the Venezuelan government

In light of Venezuela’s recent currency devaluation, Venezuelan blogger and technology activist Luigino Bracci Roa argues that a change in attitudes towards consumption and technology is required.

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World Bank and IMF Forecasts Follow Predictable Pattern for Haiti, Venezuela

The World Bank has joined the “doom and gloom” chorus on Venezuela’s economy. And in Haiti, the Washington-based institution again appears overly optimistic.

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The Guardian vs. the Conventional Wisdom on Venezuela

Just as it appeared that the current conventional wisdom on Venezuela had spread and hardened irreversibly throughout the major media, on Monday the UK daily The Guardian published an editorial entitled “Venezuela, defying predictions – again.”  The piece deftly takes on a few commonly held views found in much of the media coverage of Venezuela.

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Disinformation Still Clouds the US Debate on Chávez's Legacy in Venezuela

Despite 14 years of catastrophist predictions for Venezuela, oil wealth has been successfully turned to social purposes.

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The 2002 Oil Lockout: 10 Years Later

Venezuela this week marked ten years since the opposition’s two-month sabotage of Venezuela’s oil industry and economy in an

Building nearly a million homes, strengthening the national healthcare system, and creating productive sources of new employment are just a few of the things the national government could have done with the $20 billion dollars lost during the oil lockout launched by the Venezuelan opposition on December 2, 2002.

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Conflicts and Conundrums: How the Venezuelan State Must Strike the Balance With its Indigenous People

Yukpa indigenous people in the Sierra of Perijá

What Venezuela currently faces is a dilemma also known and lived by many other neighbouring Latin countries, wherein the need for progress and development essential to guarantee national sovereignty and economic might is challenged by the equally important endeavour to safeguard the environment, natural resources and the indigenous populations that inhabit the same regions.

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What the Statistics Tell Us about Venezuela in the Chavez Era

In the lead up to Venezuela’s presidential election earlier this year, the picture painted in most private media was that of a country falling apart. But a brief look at the statistics offers a very different story, one that helps explain why the majority of the Venezuelan people keep re-electing a government that, according to the private media, is driving the country into the ground.

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