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Chavez vows to nationalise power sector

Emboldened by landslide re-election last month, President Hugo Chavez (pictured) this week has vowed to use his new six-year term to intensify his socialist drive by nationalising what he called strategic sectors of the economy, including telecommunications and electrical energy. Chavez, who was sworn in on Wednesday is also seeking more powers from Congress and an end to central bank autonomy.

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