Economy / Venezuela
If you would like to subscribe to Andean Group Monitor and gain instant access to this article, please click here to subscribe.
If you would like to take a trial to Andean Group Monitor please click on the trial link below.
Growing Problems
September 2006 | Economic AnalysisSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
If you would like to subscribe to Andean Group Monitor and gain instant access to this article, please click here to subscribe.
If you would like to take a trial to Andean Group Monitor please click on the trial link below.
We continue to be concerned about the macroeconomic story in Venezuela. Inflation is beginning to get out of hand, government spending is excessive, and, most worryingly, the price of oil - the backbone of the export sector - is beginning to fall. True, over the past few years, Venezuela has had one of the world's fastest growing economies, and in the short-term, the country's hard-currency reserve buildup has made it capable of weathering external storms. However, the closer we look at the long-term sustainability of the Hugo Chavez government's macroeconomic regime, the more concerned we become. The oil windfall enjoyed