Reuters: US Dollar Report: UPDATE 2-Venezuela's Chavez overcomes infection, treatment continues

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UPDATE 2-Venezuela's Chavez overcomes infection, treatment continues Jan 26th 2013, 23:18 Tweet Share this Email Print Sat Jan 26, 2013 6:18pm EST By Fabian Cambero and Brian Ellsworth SANTIAGO/CARACAS, Jan 26 (Reuters) - Venezuelan President Hugo Chavez has overcome a respiratory infection, but is still being treated for breathing problems after cancer surgery last month, a government minister said on Saturday. Official statements have sounded upbeat about the socialist president's condition in recent weeks following rumors he was gravely ill in a hospital in Cuba. "(Chavez) has overcome the respiratory infection, although he still has a certain degree of respiratory insufficiency," Information Minister Ernesto Villegas told reporters in Chile, where Latin American and European leaders are meeting. "Vice President (Nicolas) Maduro has estimated that Chavez could come back in weeks, but we haven't wanted to put a time frame on the president's recovery," Villegas added. Earlier on Saturday, Maduro said Chavez was in his "best moment" since his operation 45 days ago, adding the president had made important economic decisions to strengthen exports. "He's got a smile that's filled with light, his thoughts are illuminated," Maduro said in televised comments before he left for the summit. Maduro had just returned from a visit with Chavez, who has not been seen in public since undergoing his fourth and most complex surgery to treat the illness that is jeopardizing his 14-year rule. Maduro's comments about economic policy came as speculation swirled that Venezuela was preparing a devaluation of the bolivar currency that would improve state finances by providing more bolivars per dollar of oil exports. Devaluation would make exports more competitive by lowering local production costs, and spur domestic industries by making imports less competitive with local goods. "We're going to develop our economy's capacity to export," Maduro said. Business leaders have said for weeks a devaluation is necessary to ease periodic product shortages resulting from a scarcity of dollars. Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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