CARACAS, Venezuela – PRESIDENT Hugo Chavez said the global economic crisis has not touched “even a hair” of the Venezuelan economy.
According to Caribbean Net News, the Venezuelan President said his country’s savings and the government’s decision to implement foreign exchange controls had helped to prepare it for the drop in oil prices. He further stated that oil prices were rebounding and would continue to stabilise.
Chavez added that the length and extent of the crisis would determine its effect on the Latin American country.
His announcement was reinforced by the Venezuelan Central Bank, which released a statement today (Feb. 10) saying that the crisis had had a minimal impact on the country and that it would continue to monitor the situation to guarantee that the country’s financial system operated normally.
However, Caracas-based Banco Mercantil said last week that Venezuela’s economy would come to a near standstill this year and public financing needs will surge.
This week marks the final week of Chavez’s political campaign for a referendum to allow him to seek another term in 2012. Under current term limits he would be forced to step down in 2013.
National polls show that Venezuelans are split on whether or not to support the referendum, as a January survey by local firm Datanalisis revealed that 51 percent and 48 percent of persons supported and opposed the amendment respectively.
Chavez has campaigned assiduously in support of the amendment and expressed confidence that the measure would go through.
“I will recognise the result, as I always have, whatever it is,” Chavez said. “But I have complete certainty that I am going to win.”
Venezuela News