Skip to Navigation

Devaluation

Bolivarian Venezuela at the crossroads, Part 3: The Venezuelan economy: in transition towards socialism

The capitalist sector is growing faster than the public sector and is still predominant in Venezuela’s economy despite the nationalizations.

» read more

Venezuela’s Chavez Announces Currency Devaluation, Two-Tiered Exchange Rate

Venezuelan President Hugo Chavez during his address to the nation, Friday (YKVE Mundial)

Venezuelan President Hugo Chavez announced a devaluation of the official exchange rate of the bolivar currency and the creation of a second rate denominated the “oil bolivar” for non-essential imports, in a nationally televised address on Friday.

» read more

Syndicate content