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Venezuela Devalues

Feb 11, 2013

Venezuela’s government has devalued its currency, bowing to inflationary pressure in a move that analysts say could have anti-Chavez political implications. The Bolivar has been reset to VEB6.30 per USD from VEB4.30. “Inflation [22.2% headline year-on-year] is now endemic...

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"[While] it’s good to build more infrastructure and increase investment, you have to be conscious about the macro effects of too big an increase in domestic demand, including of course public expenditure."

Julio Velarde, Peru central bank


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