Just announced. (more updates tonight)
It seems that the situation is so bad that they could not wait until after the oncoming presidential vote. Thus it could push the vote AFTER March 17, just a few hours after I say it would be March 17... Sometimes this regime makes me feel like a weather vane.
The big question is what about the gigantic debt at 4,3? Will they honor it?
On other news: the SITME is suppressed, the only safety valve for those who needed legal dollars that were refused to them by CADIVI. What will be the next safety valve as it seems that dollars are going to be even more restricted! They are going to create yet another layer of bureaucracy to figure out who gets dollars.
Me thinks that this is the least possible devaluation they had to do to survive until the next election. Expect another devaluation after the election as the dollar should be at least at 8 today and after a campaign, well, 10 would be the bottom line.
At any rate, yet another admission of the extraordinary failure of chavismo. When Chavez came to office the bolivar was around 0,5. Now it is 6,3. With the highest oil income in our history. You do the math. There is NO EXCUSE FOR CHAVISMO.