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Message: Chavez: Measures are to be announced to safeguard the country's strength

Chavez: Measures are to be announced to safeguard the country's strength

posted on Mar 21, 2009 11:54AM
Chavez: Measures are to be announced to safeguard the country's strength


Caracas, Mar. 21 ABN .- The president of the Bolivarian Republic of Venezuela, Hugo Chávez Frías, said the measures announced this Saturday on a national network is to safeguard the economic strength that has the country to the danger posed by the capitalist crisis that plagues the world.

Made contact with the news that transmits Venezolana de Television (VTV), the president stressed that the measures taken by the Venezuelan government for 10 years allowing Venezuelans are not victims of this crisis affecting the world.

"The measures announced today are a way to safeguard this strength that allows us to continue the process of social development, safeguarding the jobs of all Venezuelans, caring for the quality of work and workers' incomes, to continue the process of social revolution and redistribution of income through the missions and continue the process of investment for the economy to continue to grow, "he said.

In this sense, the Venezuelan Head of State recalled that during 2008 several Venezuelan banks were becoming structured notes issued to financial institutions that are currently in bankruptcy.

"I remember that last year I reported that several private banks in structured notes were buying here in the big banks, taking the dollars to large banks that by then appeared as a buoyant and very strong and we decided to give them a deadline to sell those notes structured and brought to the country the capital invested, "he said.

The capitalist crisis that the world has lived among the main factors behind the crisis are the high prices of raw materials, product sobrevalorización, a world food crisis, high inflation and the global threat of a worldwide recession, and a credit crisis, mortgage and trust in the markets.
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