Venezuelan economy expected to have the biggest contraction in Latin America for 2010 and 2011

[ChangoLoa]

IMF forecasts a 4% growth rate for the region and -2,6% for Venezuela in 2010.


In Spanish:
Estiman contracción económica del país como la mayor del continente

De "retrasada y débil", calificó el Fondo Monetario Internacional (FMI) la recuperación económica de Venezuela en comparación con otros países de la región, que lograron capear la crisis económica mundial "comparativamente bien" y ahora se recuperan a un "ritmo robusto".

Según el informe semestral del organismo, la región crecerá un promedio de 4,0 por ciento este año y en 2011, con excepciones como Venezuela, cuya economía se contraerá en 2010.

De acuerdo al FMI, Venezuela seguirá siendo la "oveja negra" de la región en lo que a crecimiento económico se refiere con un retroceso de su economía de 2,6 por ciento este año, debido principalmente a las restricciones eléctricas que están afectando negativamente a su industria. El FMI espera que la situación mejore en 2011 con un ligero avance del PIB de 0,4 por ciento.

Hace seis meses, el FMI pronosticó un retroceso de 0,4 por ciento para este ejercicio.

El Fondo Monetario sostiene que Venezuela registrará una inflación de dos dígitos, con tasas de 29,7 por ciento en 2010 y de 33 por ciento en 2011, reseñó Efe.

La economía venezolana mantendrá su superávit por cuenta corriente, aunque será de sólo el 10,5 del PIB este año, casi el doble de lo pronosticado en el último informe del FMI. En 2011, se incrementará hasta 10,8 por ciento.


Link:
http://internacional.eluniversal.com/2010/04/21/eco_ava_estiman-contraccion_21A3774771.shtml

[protocol rv]

1. Let's re-define what's a good economy

I've been hearing rumblings from our radical red friends, they want to re-define what constitutes a good economy. Under the new measures, hyperinflation will be considered a good thing. Imagine how rich we'll feel carrying 1000 Bolivar Fuerte bills in our wallets! Also, a lower GDP will be good, as long as we get to march around wearing red suits like fascist penguins. Oh, I love this future these chavista castroite pseudo liberal communists have in mind for us, where reality is re-defined as if we were living in a disorganized, criminalized, lawless, , disfunctional and garbage strewn version of 1984.

[Vogon_Glory]

2. Time To Sacrifice To The Volcano God?

Looking back to some of my more eclectic reading, I now remember that I used to look down on primitive societies for their habit of using the incumbent political or religious leadership as sacrifices to to the harvest, weather, or volcano gods when the crops withered, the game vanished, or the rains failed. I thought it was rather tough on the leadership of societies lacking such things as refrigeration, freeze-drying, grain bins, and other means of long-term food storage. I mean, seriously, those tribal chiefs of long ago (and I include pre-Xian caucasians) did lack adequate weather prediction systems and massive foreign currency reserves.

These days, though, I'm older and far more cynical, but I still believe that one of the jobs of a political leader is to ensure the general prosperity. While I still believe leaders of primitive societies deserve a break, I'm far less forgiving of the political leaders of those "civilized" countries possessing adequate weather forecasting, foreign currency reserves, telecommunications, research libraries and the internet to inform them of what's happening in their country.

In my nastier moments, I think that reviving such customs might be a fine way of disposing of political dead-wood that isn't living up to its responsibilities.