From today, Venezuelan citizens and residents who have legally acquired dollars will be able to open foreign currency accounts in public Venezuelan banks. They will also be able to use those accounts to purchase cars overseas, following a decree that President Nicolas Maduro signed yesterday.
By Mark Weisbrot - Centre for Economic and Policy Research, Oct 27th 2013
On Monday, October 21, the AULA blog published by the Center for Latin American and Latino Studies at American University had a post describing “[t]he dire state of the economy” in Venezuela that contained several errors.
The Venezuelan economy experienced better than expected GDP growth of 2.6% for the April – June period this year, with the country’s central bank predicting the economy to continue growing throughout 2013.