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Capital flight continues in Hugo-land
Hugo Chavez has made it clear that exchange controls will be a permanent measure to prevent "the oligarchy from taking the US dollars and depositing them in banks around the world."However, based on official data, capital flight has continued at a rapid pace no matter exchange controls. Hugo's going where Bambi wants to go ... The asset and liability accounts and the item entitled "errors and omissions" of the balance of payments prepared by the Central Bank of Venezuela have enabled Ecoanalítica, a Venezuelan research firm, to determine that in the first half of the year, the outflow of capital stood at USD 8.69 billion, an amount 10 percent higher than the figure reported in the same period of 2009. Posted by: Steve White 2010-09-01 |
| http://www.rantburg.com/poparticle.php?ID=304585 |