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 to

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here:

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: