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er, CEPR is a fairly reliable source. Are you disputing the figures used, or just the people in general who use them?
Venezuelan sovereign debt, both domestic and foreign, has decreased in recent years in both absolute terms and as a percentage of GDP. Venezuela's external debt/GDP ratio of approximately 16% is low by Latin American standards. Venezuela's Emerging Markets Bond Index investment risk rating, at 202 basis points, dropped somewhat over 2005, but remained higher than many in the region.
Venezuelan sovereign debt, both domestic and foreign, has decreased in recent years in both absolute terms and as a percentage of GDP. Venezuela's external debt/GDP ratio of approximately 16% is low by Latin American standards. Venezuela's Emerging Markets Bond Index investment risk rating, at 202 basis points, dropped somewhat over 2005, but remained higher than many in the region.
There is considerable income inequality. The Gini coefficient was 0.45 during 2006. According to government statistics, the percentages of poor and extremely poor among Venezuelan population were 33.9% and 23.2%, respectively, in 2006. These high ratios are due primarily to lower real wages earned by employees, and high rates of un- and underemployment.
There is considerable income inequality. The Gini coefficient was 0.45 during 2006. According to government statistics, the percentages of poor and extremely poor among Venezuelan population were 33.9% and 23.2%, respectively, in 2006. These high ratios are due primarily to lower real wages earned by employees, and high rates of un- and underemployment. On the other hand, the government of [[Hugo Chavez]] increased social spending and subsidised food and education. Under Chavez, the poverty rate also decreased from 55.1 percent in 2003 to 30.4 percent in 2006.<ref>[http://www.cepr.net/documents/publications/venezuela_2007_07.pdf The Venezuelan Economy in the Chávez Years]</ref>
Starting January 1st 2008 Venezuela will adopt the "Bolívar Fuerte" as its new currency. The new Bolívar eliminates the three zeros of the older currency. For example, 50.000 Bolívars are equal to 50 Bolívar Fuertes.
Starting January 1st 2008 Venezuela will adopt the "Bolívar Fuerte" as its new currency. The new Bolívar eliminates the three zeros of the older currency. For example, 50.000 Bolívars are equal to 50 Bolívar Fuertes.