Financial Friction in Venezuela

Financial Friction in Venezuela

Few sectors of Venezuelan society have escaped the fury of President Hugo Chávez, who has publicly denounced the oligarchy, opposition parties and labor unions, among other groups. So it is surprising that it took so long for him to lash out against Venezuela's bankers, as he did in May when he warned them to cut interest rates on loans and lift those paid to depositors or face unspecified government retaliation, perhaps interest rate controls. Bankers in Caracas changed their loan rates, but say Chávez's threats were not a factor. "The nation cries out for l

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