Looming inflation in Venezuela may lead to both highly
social and political instability in the short term and unexpected consequences,
economists claimed during a panel held at the Council of the Americas in New
York. Capital issues in the debate were an overvalued bolivar, the Venezuelan
currency, and the foreign exchange rate, both of which are considered the most
serious and the most worrisome in the Venezuelan economy, DPA reported. Aaron
H. Freedman, Vice President/Senior Credit Officer, Moody's Investors Service,
believed Venezuela edges closer to a crisis due to growing inflation and its
overvalued exchange rate. More...
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