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Latin American Economy & Business - July 2015 (ISSN 1741-7430)

Venezuela: Peering into the black box

The Venezuelan economy is not doing well – some would call that a massive understatement. A key problem is the dearth of credible data on GDP, inflation, trade and external payments. Juan Cristóbal Nagel (editor of the Caracas Chronicles blog and economics professor at Universidad de los Andes in Chile) has said that trying to analyse the current state of economy is like “looking into a black box”.

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