Exchange controls keep beauty queen from pageant

Thu May 15, 9:14 PM ET

CARACAS, Venezuela (<a href=story.news.yahoo.com>Reuters) - Venezuela's tight foreign exchange controls have stopped the South American country's candidate from competing in the Miss Universe (news - web sites) beauty pageant, her main sponsor says.

Venezuela's private television channel Venevision said on Thursday that Miss Venezuela -- brown-haired Mariangel Ruiz -- would not attend the Miss Universe contest in Panama on June 3 because they were unable to obtain the hard currency needed to send her.

Venevision, which traditionally sponsors the country's candidates, sent a letter on Thursday to the president of the Miss Universe Organisation, Paula Shugart, advising her that Ruiz would not be going.

"We are all saddened that Mariangel Ruiz (Miss Venezuela 2003) will not be participating. Venezuela has a very strong following and the country's absence this year will be deeply felt," Shugart responded in a statement sent to Reuters by Venevision.

Venezuelan women have had a remarkable success in such contests, winning four Miss Universe crowns, five Miss World (news - web sites) crowns and three Miss International crowns.

Left-wing President Hugo Chavez introduced stringent foreign exchange controls more than three months ago to stem heavy capital flight and a slide in the bolivar currency triggered by an opposition strike in December and January.

Ruiz told Globovision television she was still hoping a last-minute arrangement could allow her to compete in Panama. "I represent a dream and a hope for Venezuela," she said.