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Latin American Economy & Business - February 2016 (ISSN 1741-7430)

Venezuela: Maduro devalues

The battle over economic policy within the radical left-wing government led by President Nicolás Maduro seems to have been won – for the moment anyway – by the more pragmatic wing. Two days after appointing Miguel Pérez Abad to replace Luis Salas as vice president and minister for the productive economy, Maduro announced devaluation and the first increase in petrol prices the country has seen for 17 years.

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