Crop loss at the Central Bank of Venezuela

[naaman fletcher]

The accumulated price for both agricultural and manufactured foodstuffs this year hits 18.4%; the highest in Latin America. And low-income families are most stricken, as they spend most of the money in food.

All of this is happening no matter the billions of bolivars spent by the government in the establishment of a food production, distribution and marketing network, and regardless of having forced banks into giving the agricultural sector most loans at very low interest rates.

Experts note that plummeting investment in the countryside, amidst a policy of price controls and seizures of farms, is tantamount to downsizing agricultural production.

But, surely enough, nothing of that will be borne in mind during the assessment of the outcome. It is very likely that we will see Loyo again, wearing a red skirt, announcing the "rescue" of farms.

http://www.eluniversal.com/2011/08/10/crop-loss-at-the-central-bank-of-venezuela.shtml