Friday, 21 May 2010

Chavez Targeting Financial Markets

President Hugo Chavez vowed Thursday to deepen a financial crackdown after raids on 15 brokerages and the arrest of four directors in the wake of the state's takeover of foreign exchange trading.

Chavez accuses capitalist speculators of undermining the bolivar and fueling one of the highest inflation rates in the world.
Critics blame him, however, for the country's economic woes, saying a complex currency system distorted the market, while socialist policies hobbled investment and production.