S&P Slashes Venezuela’s Credit Rating/ Cae calificación de Venezuela

Venezuela is quite used to political risks as nationalization of companies and amendments in economic rules have become quite common there. Health of President Hugo Chavez is also engulfed with doubts, especially after the surgery he had earlier this summer in Cuba for the removal of a cancerous tumor after which he was also given chemotherapy treatment. S&P also stated that this has done nothing more than adding to the already huge pile of risks. According to Roberto Sifon Arevalo, analyst at S&P, the private-sector investment has been dented by volatile and distorting economic measures as well as changes in arbitrary laws, exchange and price controls, along with hurting productivity, debilitating the domestic economy of Venezuela ( more...)/ “Los constantes cambios del país, así como las creación de leyes arbitrarias, el control de precios del mercado y otros factores también dañan la economía doméstica”, dijo la agencia S&P. Venezuela que estaba calificada como una nación BB-, cayó un punto y ahora tiene una deuda a largo plazo calificada como B+, lo que significa que los riesgos son mayores. Hace sólo unos días el mandatario venezolano aseguró que nacionalizará el oro del país para dar mayor estabilidad a la convulsionada economía del país, una de las más afectadas por la pasada crisis mundial ( más...)