Leader Vows to Cut Venezuela Inflation

CARACAS, Venezuela —  Other leaders have predicted better times are coming, but President Carlos Andres Perez is betting his homeland on it.

Perez says he will seek asylum in another country if next year’s inflation goes over 40%, half this year’s projected rate.

In statements published in Saturday newspapers, he said the government’s economic reform plan and measures to keep down inflation are working well.

“We won’t go over 80% . . . and next year, if we come out with even half of this year’s, I’ll go into exile,” he said.

A similar pledge in February nearly had Perez packing his bags. Shortly after his inauguration that month, Perez startled Venezuelans by promising to go into exile if 1989’s inflation went over 80%. This year’s inflation, including November’s 1.3%, comes to 77.9%.