The repeated devaluation was driven by political ends that resulted in the domestic boom. The growth accrued through its earnings obtained from exporting oil. When the global marketplaces fuel pricing appears in dollars, the Venezuelan government gets more income. As a result, the U.S. dollar paychecks make each dollar produce more currency for the government to be spent on domestic issues. Thus, devaluing the Bolivar created fiscal stability for a while for the government. Revenues obtained from oil in terms of dollars increased the Bolivar leading to an improvement in the Venezuelan economy.
What benefit did the Venezuelan regime in power gain from the repeated devaluation of the Bolivar?
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Academic.Tips. 2022. "What benefit did the Venezuelan regime in power gain from the repeated devaluation of the Bolivar?" June 14, 2022. https://academic.tips/question/what-benefit-did-the-venezuelan-regime-in-power-gain-from-the-repeated-devaluation-of-the-bolivar/.
1. Academic.Tips. "What benefit did the Venezuelan regime in power gain from the repeated devaluation of the Bolivar?" June 14, 2022. https://academic.tips/question/what-benefit-did-the-venezuelan-regime-in-power-gain-from-the-repeated-devaluation-of-the-bolivar/.
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Academic.Tips. "What benefit did the Venezuelan regime in power gain from the repeated devaluation of the Bolivar?" June 14, 2022. https://academic.tips/question/what-benefit-did-the-venezuelan-regime-in-power-gain-from-the-repeated-devaluation-of-the-bolivar/.
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