Venezuela ‘boligarchs’ doing well

A new economic class has surfaced despite Chavez’s “21st century socialism” rhetoric.

Venezuela boligarchs

Authorities in Venezuela have arrested four investment broker executives as part of a crackdown on the sector that Hugo Chavez, the president, says is driving up inflation through currency speculation.

Inflation has become a particular challenge for Chavez who has vowed to lead his country to what he calls “21st century socialism”.

But despite his policies and views, a new economic class, known as the “boligarchs”, have surfaced.

These are businessmen and government officials who support Chavez’s changes but have also become millionaires during his rule.

Al Jazeera’s Monica Villamizar met one of the country’s leading magnates.

Source: Al Jazeera