Investors can regain confidence in Venezuela in one week
The economist told El Universal during a video-chat that a statement of autonomy and a new board at the Central Bank of Venezuela (BCV), among others, could send good signals to investors
Distrust of an expropriating government and a legal framework that corners the private sector are among the hurdles in Venezuelan economy. Nevertheless, in a question of weeks, such a situation could change in the event of a brand-new government.
Economist Miguel Ángel Santos commented in a video-chat with El Universal on a number of steps that can be taken in one-week term to "send signals to the market" and inspire confidence. First thing would be a new board of directors at the Central Bank of Venezuela (BCV), as well as a statement of autonomy aimed at shielding the currency.
Another recommendation for a new government would be an expropriation team to make a review on a case-by-case basis and welcome back any businesses willing to get into a partnership with the State.
Santos stressed the importance of confidence to attract both domestic and foreign investment.
The economist did not rebuff the State involvement in strategic sectors, "but this is not the case of vegetable oil."
Translated by Conchita Delgado
The very early morning after the presidential election (April 15), both candidates requested the National Electoral Council (CNE) to conduct a full audit of the process: one, Henrique Capriles, because he asserts that the election results are different from the ones announced, and the other one, Nicolás Maduro, in order to clear any doubt regarding his victory, and to reinforce his political stance. Nevertheless, as it is already known, President Maduro changed his mind.