Venezuelan bonds fell hard Thursday, a day after the government announced a partial currency devaluation seen largely as insufficient to resolve the oil-rich country’s growing economic challenges. Economists said the government’s plan to sell more dollars to Venezuelans at a weaker exchange rate against the dollar would produce a marginal difference in its fiscal deficit, and likely prompt the central bank to continue printing the bolivar currency. That is likely to potentially exacerbate an inflation rate that is already at 56%, one of the world’s highest. Economy Vice Minister Rafael Ramirez, who also heads the state oil company Petróleos de Venezuela, said Thursday that private companies would also be allowed to sell dollars. But details of the plan are scant, and observers said there was little indication that the state would do much to ease its rigid dollar controls. “It’s a case of too little, too […]