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Latin American Program in the News: Venezuela: A tale of two Economies

Eric L. Olson

Eric Olson on the economic situation in Venezuela and its growing dependency on imports.

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"The problem is Venezuela has become more dependent on imports," Eric Olson, associate director of the Latin American Programme at the Woodrow Wilson Centre in Washington, told Al Jazeera.

The government tightly controls Venezuela's currency, the bolivar. It was devalued by 32 percent in February and now officially trades at 6.3 bolivars to the dollar, pushing up prices for most products. "The policy has resulted in greater inflation," Olson said.

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About the Author

Eric L. Olson

Eric L. Olson

Global Fellow;
Director of Policy and Strategic Initiatives, Seattle International Foundation
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Latin America Program

The Wilson Center’s prestigious Latin America Program provides non-partisan expertise to a broad community of decision makers in the United States and Latin America on critical policy issues facing the Hemisphere. The Program provides insightful and actionable research for policymakers, private sector leaders, journalists, and public intellectuals in the United States and Latin America. To bridge the gap between scholarship and policy action, it fosters new inquiry, sponsors high-level public and private meetings among multiple stakeholders, and explores policy options to improve outcomes for citizens throughout the Americas. Drawing on the Wilson Center’s strength as the nation’s key non-partisan policy forum, the Program serves as a trusted source of analysis and a vital point of contact between the worlds of scholarship and action.  Read more