Economy / Venezuela
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More Currency Weakness On Parallel Rate
January 2007 | Economic AnalysisSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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BMI View: The bolivar continues on a downward trajectory in the parallel exchange rate market, on the back of more bad news for the domestic economy. Profligate government spending, weakening oil prices, and growing market imbalances all paint a bleak picture of Venezuela's economic future, and the prospect of a seismic devaluation in 2007 remains real.