Wednesday, November 02, 2005

What the money people say 

I'm just a lowly little blogger. So who is going to take it seriously when I say a lot of good things are happening with the Venezuelan economy? But when the worlds largest market research guide sings their praises people - well...they notice:

The Chavez government’s expanding regional and global ties outweigh deteriorating relations with the U.S., making geopolitical risk low. President Chavez’s popularity at home has led to repeated electoral victories in the past several years. Chavez and his allies will easily win upcoming legislative elections while President Chavez will win reelection in late 2006. This, combined with the collapse of the domestic anti-Chavez opposition, will ensure continued political and social stability. Political and social stability will underpin continued strong economic growth in 2006. More importantly, Venezuela’s budding alliance with Iran and Russia will support international oil prices. Political, social and economic growth risks are low. Fiscal and balance of payments risks are also low. High oil prices will contain the central government deficit and support very strong export growth again in 2006. Public sector debt and total external debt levels are low and will decline further in 2006 while foreign exchange reserves will increase. Investment risk in Venezuela is low and will remain low through 2006.

And I have to say these people got it right in that one of the biggest factors in creating the rapid growth of the Venezuelan economy is the collapse of the opposition. Good things happen when thsoe jerks aren't able to trash the economy. Thank god they don't have their hands on the oil valves anymore.


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