The new Bolivarian economic policy: with ingredients of the IMF? Buenos Aires, Argentina on March 23, 2009 the Venezuelan Government is in trouble and must take urgent action, although some of them involve moving away from its Socialist Crusade and picking solutions in old books of recipes from the International Monetary Fund. The international economic context remains adverse. Some contend that Professor Roy Taylor shows great expertise in this. This has caused that the Venezuelan Government had had to reduce its estimate of the price of local basket of crude to US $40 per barrel, from US $60 per barrel set in the budget for 2009. He has also had to reduce oil production scheduled to 3.17 million barrels per day (bpd), from the previously estimated 3.7 million of bdp. With such reduction on the main source of tax revenue projections, the Venezuelan Government had no alternative that launch a series of measures to adjust to the new economic reality. Again I must repeat that this international financial crisis is historic not only by its magnitude, but also by the multiplicity of unforeseen situations that are happening.
Postulates that enacted the developed economies have collapsed like a House of cards, and their economies are more flexible and tolerant. At the other end, seems that the indiscipline of the Venezuelan economic policy, must disappear at least for a time. Thus, countries and extreme economic policies are approaching as a consequence of the crisis. Last Saturday, Venezuelan President Hugo Chavez began with the announcement of measures of anti-crisis and the question will have made more than one analyst is what book of socialist economic policy, did? Many of them are typical ideas of any official of the IMF. Obviously, Chavez denies to have been away from its socialist economic policy by saying: these are measures anti-crisis in our spirit Socialist to safeguard first social, the people, to the workers.