BMI View: We revised our forecast for Venezuela’s IT market downwards in the Q3 2013 update to take account of devaluation in February 2013 and further downside risks from the uncertainty of the political and economic situation following the death of Hugo Chávez. The initial transition to the government of Nicholas Maduro has been relatively smooth, but we still believe there are uncertainties arising from the loss of Chávez as a figurehead for the movement. Despite this disruption BMI continues to point to opportunities in Venezuela. It is one of the smaller markets in its region. However, it has a …
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