Chavez: Anti-meltdown measures forthcoming

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President Hugo Chavez says his government will soon announce a series of measures aimed at countering the world economic crisis.

President Hugo Chavez says his government will soon announce a series of measures aimed at countering the world economic crisis.

It is not clear what specific economic policies Venezuela could implement to curb the impact of the crisis, but officials have already announced plans to slash public spending.

Venezuela relies on oil for nearly half the government budget, but the price of crude is fetching less than a third of what it did over the summer.

Chavez wrote in his Sunday newspaper column that his government plans to make announcements soon that will "strengthen Venezuela's position in relation to the critical global situation."

Chavez assured readers that no crisis "can stop Venezuela's march toward socialism."

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