Venezuela's Chavez warns price 'speculators'

Source: PressTV
http://www.presstv.ir/detail.aspx?id=115869§ionid=3510213


Venezuela's President, Hugo Chavez, has ordered the country's troops to seek out businesses that raise prices after a recent devaluation of the currency.

"I want the National Guard to hit the streets with the people to fight against speculation and take measures," Chavez said Saturday night during his weekly TV speech after a devaluation of the bolivar last week.

"Right now, there is absolutely no reason for anybody to be raising prices of absolutely anything," the president said.

On Friday, Chavez devalued the country's national currency by around 17 percent.

The move is considered to be a bid to offset a recession and increase the government's oil earnings.

Thousands of Venezuelans rushed to shops on Saturday, fearing that currency devaluation will increase prices.

Chavez said Saturday that the devaluation will help make Venezuelan companies more competitive, but he warned the government would act against shops that illegally rise prices.

"This government protects and will continue to protect the weakest with investment and with special attention," he concluded.