Published on Iranian.com (//legacy.iranian.com/main)
71% of Venezuelans are unhappy with failing economy
Bloomberg / Matthew Walter
23-May-2008

In a country blessed with enough crude to make it OPEC's sixth-largest producer, the store has no milk, no chicken, no cooking oil and no flour. A currency black market is thriving. Inflation hit an annualized 29 percent in April and rents in upper-middle-class neighborhoods of Caracas have soared to New York levels -- as much as $4,000 a month for a two-bedroom flat. Food producers say the seizures by the National Land Institute have made shortages worse. ``There's a flight of investment from food production,'' Petrodollar billions can buy a lot of things. As Chavez has found, well-stocked grocery shelves aren't always among them.

 

 

 

>>>
recommended by David ET
Balatarin
Share/Save/Bookmark


Source URL (retrieved on 12/06/2012 - 14:04): //legacy.iranian.com/main/news/2008/05/23/71-venezuelans-are-unhappy-failing-economy

 
© Copyright 1995-2010, Iranian LLC.   |    Archives   |    Contributors   |    About Us   |    Contact Us   |    Advertise With Us   |    Commenting & Submission Policy   |
|    Terms   |    Privacy   |    FAQ   |    Archive Homepage   |