Venezuela Undergoing ‘Chavista Liberalization’: Incentives for Dollars, Foreign Investment

In a country with an economy ravaged by hyperinflation of the local currency, and a permanent economic crisis, the relief produced by the dollar flow is both a mirage and a paradox.

RIO DE JANEIRO, BRAZIL - Venezuela's daily life is dollar-dominated, however strongly the Caracas government clashes with Washington. Its penetration into all layers of society means that there is no turning back and its use, which is not new, has now been endorsed even by Nicolás Maduro.

It is not the only paradox of a regime that defines itself as socialist and revolutionary. The government is now seeking a new openness to investors, through the so-called Anti-blocking Law, a legal instrument designed to circumvent international sanctions, which facilitates investments by companies, and to this end extends . . .

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