Venezuela Economic Outlook: More Chaveznomics

“For a majority of local and foreign investors the results of Sunday’s presidential elections in Venezuela was bad news. President Hugo Chavez won re-election by a wide margin, trouncing his opponent Manuel Rosales, who had pledged to make Venezuela more business-friendly.

“He [Chavez] will slowly, but surely, do away with the private sector,” predicts Ian Stein, executive director of the Venezuelan-British Chamber of Commerce in Caracas.”

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