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Venezuela: Maduro plans devalution to defend social projects
Action to beat ‘parasites’ will also include rise in petrol prices

VENEZUELAN President Nicolas Maduro will devalue his country’s currency and raise rock-bottom petrol prices to end “criminal inflation” and defend social projects.

He announced the plans on Wednesday as part of his three-pronged strategy to “control and regulate the
market.”

Mr Maduro said that first the systems of “economic war” must be dismantled, followed by “all the functioning mechanisms of the old rentier state,” including reliance on the oil industry, and finally improvements to the distributive system.

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