Venezuela forced into “war economy” to confront U.S. sanctions: president

(130604) — CARACAS, June 4, 2013 (Xinhua) — Image provided by Venezuela’s Presidency shows Venezuelan President Nicolas Maduro meeting with the Venezuelan Military High Council at the Miraflores Palace, in Caracas, Venezuela, on June 3, 2013. (Xinhua/Venezuela’s Presidency) (jl)

WASHINGTON, June 19 (Xinhua / RAHNUMA) — Venezuelan President Nicolas Maduro said on Friday that his country has been forced to implement a “war economy” to confront U.S. sanctions and promote the development of productivity.

The president said in an interview with Bloomberg that the nation has had to “allow the operation of the (U.S.) dollar for trade exchange,” which has been very positive, but the official currency (of the bolivar) “will once again play a strong and dominant role in the economic and commercial life of the country.”

In the face of economic “aggressions,” the government has had to react with a broad vision, he said.

The aim of today is the development of national production, he said in an interview broadcast by the state-owned Venezolana de Television.

Maduro also said that he seeks to “reconstruct relations with the ruling elites in Washington” and “rebuild the paths of dialogue and understanding.” Enditem

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