ESPACIO PUBLICITARIO
CARACAS, Friday January 18, 2013 | Update
 
|
share
|
ECONOMY

Venezuela trims US dollars for imports; prompts Sucre

Central bank says over 300 companies use Sucre

US sales for regular imports collapsed (File photo)
VÍCTOR SALMERÓN |  EL UNIVERSAL
Friday January 18, 2013  03:27 PM

In 2012, the Venezuelan Foreign Exchange Administration Commission (Cadivi) implemented a strategy to stimulate the Unified System for Regional Compensation (Sucre) as a mechanism to import and cut down the sale of US dollars for import via both regular operations and the Latin America Integration Association (Aladi).

Sucre is a common account unit worth USD 1.24, used by Member States of the Bolivarian Alliance for the Peoples of Our America (Alba); it allows Venezuelan enterprises to pay in bolivars imports from Cuba, Nicaragua, Bolivia, and Ecuador.

According to Cadivi's data, Sucre's overall operations in 2012 amounted to USD 2.75 billion, 478% above the figure recorded a year earlier.

In the meantime, regular operations via Cadivi accounted for USD 18.17 billion, 7% below those recorded in 2011. Moreover, bond sales under Aladi went down 4.5%.

In late 2012, BCV's President Nelson Merentes asserted that "300 enterprises operated under Sucre by the end of 2012, 99% of which belong to the private sector."

vsalmeron@eluniversal.com

Translated by Jhean Cabrera
|
share
|
ADVERTISING SPACE
Dossier
Sambil mall expropriated owners still hopeful

Cristian Fonseca, a businessman in La Candelaria district downtown Caracas, was doing the accounts in his small shop office on Sunday December 21, 2008. The Christmas shopping season kept him working late hours into the night. It was around 11 p.m. and his phone rang. A friend broke the bad news to him over the telephone.

 Ranking
  •  Read 
fotter clasificados.eluniversal.com Estampas
Alianzas
fotter clasificados.eluniversal.com Estampas
cerrar