Taking On Inflation, But Is It Enough?

After inflation reached 18.4% y-o-y in January, with most risks pointing to further upside potential, the Venezuelan government has announced a series of measures design to rein in the spiralling price growth. On the demand side, President Hugo Chávez plans to encourage saving (and thus dampen consumer spending) through higher interest rates in the banking sector. In addition, the finance ministry is expecting in Q107 to issue up to US$5bn in

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