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Venezuela - February 2002 |
| | Economic Outlook | | |
Author: John Price
InfoAmericas President
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Better late than later… 
the bolivar catches up with reality
While one half of Latin America bit its nails over the Argentine economic crisis and the other half reveled in the last day of Carnival, Venezuela floated its currency on Tuesday, February 12th. Despite last year’s warnings that the bolivar had become overvalued by as much as 40%, Chavez’s move caught most observers off guard.
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