Economy & Business - February 2012 (ISSN 1741-7430)

In the first seven weeks the Banco Central de Venezuela increased the volume of dollars available for discretionary imports by 44%, year-on-year. The move reinforces two well substantiated assumptions. The first is that with crude oil prices surging again, the government has money coming out of its ears. The second is that this money will be spent where it can have most immediate benefit on President Hugo Chávez’s re-election. Elections are due on 7 October 2012.