Devaluation Only A Question Of Time

BMI View: Although the economy may be enjoying some temporary tailwinds at the moment due to higher oil prices, structural policy-induced imbalances, are, if anything, getting more entrenched. Despite the unpalatable political ramifications, we still believe that that the government will be forced to devalue the bolivar sooner rather than later, as the present policy of trying to manipulate the black market rate is unlikely to be sustainable.

To read the full article, please choose one of the following options: