Venezuela 'overdrive' plan still not in effect

Venezuelan President Hugo Chavez acknowledged Tuesday that a $2.1bn central bank financed government spending plan he announced two months ago to spur economic growth had still not taken effect.

The "economic overdrive" plan, using funds from a much-criticised central bank transfer, was the centerpiece of Chavez's plans to drive economic growth after last year's painful 7.2% contraction, the worst in a decade.

"The 'overdrive' has not been put in gear yet, I have to admit. We said it was going

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