Venezuela Revalues
Bolivar
CARACAS - Venezuelan President Hugo Chavez
reaffirmed that Venezuela is revaluing
bolivar, the national currency, after the
economic measures adopted over a week ago.
"Actually, we are revaluing bolivars, as
part of our new challenges," said Chavez in
his Sunday Lines, referring to the dual
exchange rate of the US dollar at 2.60 and
4.30 bolivars, depending on the sector.
"Change the value of our currency in
relation to the US dollar is only the most
superficial analysis of what we are
proposing indeed," the president remarked.
He explained the economic measures taken by
the government respond to the need of
putting and end to a situation within a
dynamic and complex transition process.
"Today, we are in the inexorable urgency of
implementing corrective measures of economic
nature," said Chavez, and recognized that
"the decisions taken could cause anxiety and
worries as all changes do."
He also asserted to have full confidence in
the people's awareness to not fall for the
false alarms that the pitiyanquis
(pro-American) media are announcing.
In his opinion, opposition media outlets are
trying to make people believe the gates of
hell are open and the Venezuelan government
will burn in its own fire from now on.
He said the new measures guarantee greater
strength to deal with the gross speculative
practices that financially did nothing else
but distorting the real value of goods and
services.
On Wednesday, the Bicentennial Socialist
Production Fund was created, as the first
step in consolidating a supportive policy
towards the national productive sovereignty,
according to Chavez.
"Be, then, this situation good to undertake,
with honesty and responsibility and strength
the construction of a country that stops
living off the income from investments and
cut the Gordian knot of oil dependence,"
stated the head of state.
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