Venezuela’s Currency Controls: A Slow, Painful Death for the Economy

For the past two weeks, Venezuela’s government has made contradictory announcements regarding new restrictions on the country’s exchange controls. They made their best effort to make it seem like there would be no economic reforms ahead. After all, President Maduro announced on January 15 that the 6.3 Bs. rate per US dollar would remain throughout the year, and he denied any upcoming devaluation. More...