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VENEZUELA REVAMPS ECONOMIC REFORM PLAN

Weakened by a coup attempt last month, President Carlos Andres Perez has abruptly drastically revamped his market-oriented economic reform program for this oil-rich South American nation.

After failing in his attempts to form a coalition government with the two main opposition parties, Perez on Thursday announced sweeping changes to policies he adopted when he took office three years ago.Perez, 69, in a nationally televised speech, canceled planned increases in gasoline prices and reinstated subsidies for electricity, medicines and basic foods.