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Some of Rosario's idle meat-packers and engineering firms have started to talk of reopening, to take advantage of the huge competitive gain that devaluation has brought.But it is far from clear that Mr Duhalde has achieved anything more than another brief respite.
But the market is not demanding devaluation (and, with the yuan still far from easily convertible, is unable to force it).
He said: "The devaluation of sterling in September 1992 didn't do the UK economy any harm, far from it.
Far from discouraged, Vitech President William St. Laurent says that the devaluation could turn out to be one of the best things that ever happened to the company.
As Hélène Rey of London Business School points out, the devaluations within Europe's exchange-rate mechanism in the early 1990s showed that risk-sharing is far from perfect even where countries have well-established political ties.The IMF's resources are puny in comparison with the amounts in the vaults of emerging-market central banks.
Far from the monetary "ease" that is frequently used to describe rate reductions today and which presumes devaluation, economist Nathan Lewis noted in Gold: The Once and Future Money that "the dollar wasn't devalued on Tuesday, Oct. 20, 1987.
As we ready ourselves for the next set of challenges -- most obviously an imminent and painful devaluation of our currency -- the December 16 elections are the next opportunity to remind the world that Chavez is far from invincible.
Far from.
Sadly, far from it.
And far from mellow.
Far from Assisi.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com