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Latin American Economy & Business - January 2016 (ISSN 1741-7430)
Venezuela: An emergency in search of a policy
The struggle over economic policy in Venezuela has intensified. The government named a new economic team and declared an economic emergency, which needs to be accepted or rejected by the opposition-dominated National Assembly. The executive and the legislative are involved in a major conflict of powers: how it will be resolved is uncertain. Both sides in Venezuela’s bitter political conflict agree that the economy faces possibly its worst crisis this century, made more acute by further drops in oil prices, but there is no consensus on what should be done.
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