Political Risk / Venezuela
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On Borrowed Time?
February 2007 | Political Risk 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: President Hugo Chávez has been granted the power to rule by decree for an unprecedented 18 months. Chávez's plan to install a rather vague "21st Century Socialism" in Venezuela creates a highly uncertain environment for investors. While the country's political and economic future has become increasingly opaque, we remain concerned over the government's radical nationalisation drive and lavish spending. The economy, supported by recent high oil prices, has been set on an unsustainable growth trajectory, and a sharp correction seems unavoidable over the forecast period.