Chavez to implement anti-inflation plan
The Executive branch is taking actions in all areas, according to Minister of Finance Rodrigo Cabezas, who, according to el universal, explained that "macroeconomic moves to be implemented comprise the areas of foreign exchange, fiscal and monetary policies and real economy."
Gaston Parra, president of the Venezuelan Central Bank (BCV), suggested that regarding the monetary policy, the authorities plan to introduce changes in the legal reserve and BCV's financial transactions intended to absorb liquidity.
"BCV is taking a number of actions we are assessing thoroughly. Such moves are subsequently to combine with other moves included in the anti-inflation pact."
According to Parra, "since last year we have been working to curb inflation. We are aware that we have to try to stop inflation from jumping as it did last year, when we had a target of 12 percent inflation."
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