Venezuela announces easing of currency controls, economists skeptical

Venezuela on Saturday eased 15-year-old currency controls, decreeing that private banks and exchange houses are allowed to sell dollars, but economists are skeptical the measure will improve the dysfunctional and crisis-stricken economy. The currency controls, which require businesses and individuals to buy dollars via the state, are frequently identified as one of the main drivers of the crisis that includes hyper-inflation and product shortages. More…