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Weekly Report - 21 August 2014 (WR-14-33)

VENEZUELA: Maduro pledges a healthy and fair economy

Just over a decade since price and exchange rate controls were introduced by ‘the Monk’ (the recently departed former finance minister Jorge Giordani) the Chavista government is still trying to defeat the basic laws of supply and demand. It is fighting a losing battle but cannot admit to it just yet, so for now the response is to stick its fingers in the dam.

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