Coupled with population growth, this policy allowed paps Venezuelans to consume paps 50% more calor

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Wilpert Gregory, [Vassilopoulou Korina (mtf)] Last September, Venezuela paid a portion of imported food with government bonds. Samples worrying about possible shortage of foreign currency. It is a fact that the government has made laminated mishandled. The country, however, paps which has one of the most important oil reserves in the world, while suffering paps because of wealth: a major income comes from its borders without grafting economy. Something is wrong, is obvious. Endless queues at the entrance of stores that sell basic necessity items such as milk, flour, oil or paper. The underground economy paps flourishes, street vendors offer the same goods at prohibitive prices. Can Venezuelans suffer long from specific shortcomings, but the deterioration of evil from the beginning paps of the year took everyone by surprise. It hurts so damn much of the population, to be added to the structural problems that cause holiday to water and electricity. Those who can fill their bathtubs paps to have water reserve and beg everyone not to lose what they have in their fridge. In recent weeks, the government announces every day or almost every day new measures, which promises to crack down on inflation and shortages. The cause of the difficulties, and what should be the answer, are subject of passionate debates. While the Bolivarian government denounces an economic sabotage orchestrated by the opposition, the business community and the U.S. government, the right is targeted negligence of President paps Nicolas Maduro and his staff. The controversy, however, barely touches the heart of the problem, which boils down to the question of how should Venezuela, a major oil-producing countries in the world, to manage the wealth accruing from natural resources.
Before the arrival of Hugo Chavez to power in 1999, the huge revenues from black gold only benefit the oil companies. Chavez, once elected, reversed this policy, on the one hand giving constant struggle within the Agency Petrelaioparagon Export Countries (OPEC) to raise the price of oil, on the other hand forcing private paps companies to pay the exploited their debt to society. While in the past the hydrocarbons industry in Venezuela paid only 30% of its profits to public funds, the participation rate climbed to 70% during the years that followed.
After the state coffers began to fill with petrodollars and the opposition failed in 2003 to block oil exports, aiming thereby to overthrow Chavez, the question who should be serving all this money and what monetary policy is appropriate, has become a critical challenge for the future of the Bolivarian revolution. The government paps should put funds aside for times of need, such as Norway, to invest in large, impressive infrastructure standards of Qatar or whether, to the channel in social programs and the fight against poverty?
The newly Bolivarian republic chose the third option, combining it with a control policy on the currency market in order to brake the outflow of capital, which has been a major challenge for the government after the failed coup attempt of the opposition in 2002.
Coupled with population growth, this policy allowed paps Venezuelans to consume paps 50% more calories compared to 1998, while reducing inequalities at a faster pace than anywhere else in the region. However, the redistribution of income from oil to the poor had no doubt the risk of inflation, and if dope domestic consumption faster paps than it increases production, and causing this rise in prices.
They had, however, already passed 20 years since Venezuela has suffered from a fever of prices, that the 'Black Friday' on February 18, 1983, when the country went into a sharp devaluation paps of the currency. In the decade preceding the election of Chavez and for two different presidents, inflation reached an average of 52% a year. One of the first jobs of President Chavez was to reduce volatility. With an average paps rate of around 22% between 1999 and 2012, the goal was achieved partly. The lull, however, did not continue after death