Chavez warns price ’speculators’ » financialsurfer.com

Chavez warns price ’speculators’

January 11th, 2010 | Category: Economy
Venezuela’s President, Hugo Chavez, has said troops will seize control of any business that raise prices in response to the devaluation of its currency. He said there was no reason for prices to go up, and speculators’ businesses would be handed over to the workers. Venezuelans have rushed to the shops to buy imported goods before the bolivar’s devaluation comes into effect. Mr Chavez says devaluing the bolivar by at least 17% will boost competitiveness and…

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