The Venezuelan authorities bowed to the inevitable late on Friday and devalued the bolivar fuerte. Although this should help to ease some of the strains in the public finances, it won’t do much to support the wider economy which is in danger of falling into recession. And in the absence of deep structural reforms, further devaluations appear likely in the coming years.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.