Venezuela, Haiti the only countries in the region in recession

[ChangoLoa]

Although the economic activity showed "some improvement" in the third quarter and it will certainly improve in the fourth quarter, "Venezuela and Haiti will be the only countries in the region in recording negative growth at the end of the year," said economic analyst Asdrúbal Oliveros.

Asdrúbal Oliveros, a director of economic research firm Ecoanalítica, said that Venezuela's Gross Domestic Product would drop 2 percent in 2010, contrary to what was expected in the economies of the region. Oliveros added that "Chile is expected to grow 6 percent; Peru and Brazil (also 6 percent); Mexico (4 percent); Colombia (3 percent). However, Venezuela and Haiti would be the only countries in the region that will be experiencing negative growth in Latin America."

http://english.eluniversal.com/2010/11/25/en_eco_esp_venezuela,-haiti-the_25A4775891.shtml

[social_critic]

1. Also suffer from very high inflation in Venezuela

This is really rare, to see a country with a failing economy and very high inflation, which I understand hovers around 30 %. The guys running the economy must be singing "if I only had a brain". Haiti is more understandable, they had that massive earthquake, and now the cholera. Haiti is a failed state. I don't think Venezuela has any excuses for its lousy economic performance.

[Zorro]

2. It's because of US policies, dontcha know

That, and the consistently negative reporting on all things related to the Chavez government by the US press...errr....foreign press that are the tools of the US mindbenders.

[Judi Lynn]

3. Please note, when quoting "El Universal," the newspaper is an anti-Chavez outlet,

one which supported the coup which the people of Venezuela overturned.

They cite Asdrúbal Oliveros, of the Ecoanalítica think tank as their factual authority in your link.

http://axisoflogic.com.nyud.net:8090/artman/uploads/1/asdrubal_oliveros_economist200.JPG

Counter-revolutionary economist, Asdrúbal Oliveros

[social_critic]

4. Venezuelan Central Bank figures show the country is in recession

Can't disguise the simple fact, Venezuela is in recession. The central bank figures show it. It suffers from very high inflation, this is also shown by the Central Bank. Trying to undermine a comment by saying it comes from El Universal is futile. Facts are facts. And stagflation is a bitch. It really hurts the poor.