Girding against possible bank runs, the central bank has auctioned off dollars and printed more reals. But many Y2K expert say the government is deluding itself. He says electricity grids, telephones, customs services, air traffic control, ports and even the oil industry may suffer disruptions. Venezuelan authorities hotly contest that assessment, saying it is based on outdated information and that despite a late start in addressing the problem the country has caught up. They insist that oil deliveries will continue uninterrupted.
All sides agree that Venezuela got a late start in tackling the bug.
President Hugo Chavez, who took office in February, did not appoint a Y2K commission until April. Authorities did not plan to launch a public information campaign until after Wednesday's national referendum on a new constitution. Experts agree that the state oil monopoly, the financial sector and other key sectors are well prepared. Copyright 2001 by The Associated Press . All rights reserved.