The decision becomes effective as of Thursday January 1, 2009 and also includes a reduction in monthly cash advances to USD 250, that is, half of the current amount
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The government announced on December 31st the reduction of
the annual allowance of dollars that the Foreign Exchange
Administration Committee (Cadivi) authorizes for travelers
going abroad, from USD 5,000 to USD 2,500, under a decree
published in the country' Official Gazette No. 39,089.
The decision becomes effective as of Thursday January 1,
2009 and also includes a reduction in monthly cash advances
to USD 250, that is, half of the current amount.
The allocation for Internet shopping remains at USD 400,
while the annual permit to cash advances will be USD 500 or
EUR 400, depending on the destination country. Until now,
such provision was USD 600 or EUR 500.
Under Article 14 of the decree, the Official Gazette provides
that travelers will be able to use up to three credit cards
of the same issuing bank, up to the new amount allowed by
Venezuelan authorities.
Translated by
Gerardo Cárdenas
Dossier
Loose ends
Two years later, subsequent to the bank interventions that affected 14 private institutions, Public Prosecutor Office maintains investigations open, these concern the public funds that ended up at some of those organisms and were utilized in shady financial operations, this is included among the accusations held by the Public Ministry against some bankers.
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