Economy / Venezuela
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Sweeping Changes
January 2007 | Ratings UpdateSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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In the wake of President Hugo Chávez's vitriolic announcements at the beginning of January, our two political risk ratings have moved in opposite directions. Our short-term rating, which primarily reflects the volatility of the political climate, moves two points higher, to 70.0 this month. This is because the government's ability to implement policy is now beyond question, given the Chávez administration's control of the legislature and most of the civil service. However, Venezuela's structural risk rating falls sharply, from 39.8 to 36.4. This is a reflection of our misgivings over the concentration of power at the top levels of government,