IMF Staff Country Reports

Venezuela: Recent Economic Developments

September 6, 1996

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Venezuela: Recent Economic Developments, (USA: International Monetary Fund, 1996) accessed November 21, 2024

Summary

This paper describes economic developments in Venezuela during the 1990s. Economic conditions remained difficult in 1995. Continued problems in the banking system, higher public sector interest obligations, a decline in oil revenues, and deterioration in the non-oil fiscal balance kept the public finances under stress. The stance of monetary policy continued to be accommodating and interest rates remained negative in real terms. These policies, together with an increasingly misaligned fixed exchange rate and the maintenance of exchange controls, contributed to the further deterioration of private sector confidence.

Subject: Banking, Commercial banks, Economic sectors, Exchange restrictions, Financial institutions, Foreign exchange, Manufacturing, Public sector, Tariffs, Taxes

Keywords: Account receivable, Anti-export bias, Bank, Benchmark interest rate, Caribbean, Central America, Central bank loss, Commercial banks, Common market, CR, Excess demand, Exchange restrictions, ISCR, Manufacturing, Middle East, Nationalized bank, Poverty line, Price pressure, Public sector, Reference price, Steel industry, Tariffs, Trade policy

Publication Details

  • Pages:

    91

  • Volume:

    ---

  • DOI:

    ---

  • Issue:

    ---

  • Series:

    Country Report No. 1996/087

  • Stock No:

    1VENEA0011996

  • ISBN:

    9781451840070

  • ISSN:

    1934-7685

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