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Rafael Ramirez, former president of PDVSA, under investigation for corruption

Thursday, March 30, 2017

3 Venezuela Experts: Debt Risk & Dollar Adoption


He says that Argentina’s convertibility system failed because it allowed for both monetary and exchange rate policies. He says a recent survey in Venezuela showed 59% of respondents supported currency boards and 62% supported dollarization. He says that in Panama, Ecuador, and El Salvador, which are officially “dollarized,” and in Peru which is semi-officially dollarized, “real GDP growth has been more stable and generally superior to growth in the countries that issue their own domestic currencies.” More…

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