He has been overly statist and interventionist, reacting to downward pressures on Nigeria's currency, the naira, by imposing draconian foreign currency controls.
President José López Portillo, elected in 1976, nationalized the country's banks and imposed strict foreign-currency controls to achieve some economic stability.
It issues the Moroccan dirham, maintains Morocco's foreign currency reserves, controls the credit supply, oversees the government's specialized lending organizations, and regulates the commercial banking industry.
The one complication in the agreement was controlling foreign currency flows, an issue that Singapore, like many other Asian nations, believed was critical to avoiding a repeat of the financial crisis.
China plans to relax its control of foreign currency lending rates by the second half of the year, China Securities News has reported.
Venezuelans will vote Sunday in a referendum that would remove all limits on presidential re-election, grant Chávez direct control over foreign currency reserves, allow him to censor the media under a state of emergency declarable at his discretion, expand his powers to expropriate private property and create the second formally socialist nation in the Americas alongside Fidel's.
Currently, Icelandic pension funds are unable to invest abroad and access to foreign currency for holidays is tightly controlled.
Economists say Venezuela's shortages stem from price controls meant to make basic goods available to the poorest parts of society and the government's controls on foreign currency.
E1 BUSINESS DAY C1-10 China Plans Polisy Changes China is preparing to reduce incentives for exporters, increase purchases of Treasury bonds and loosen controls on foreign currency holdings to relieve U.S. anxiety over its growing trade surplus.
In a lengthy statement issued last night, the Washington-based fund said the Ukrainian central bank, in three separate transactions from 1996-1998, creathe the impression that it controlled more foreign currency than was actually the case.
