Venezuelan gov't establishes Higher Agency for Upgrade of Exchange System

The appropriate use of foreign currency has been scheduled (TV screen capture)

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EL UNIVERSAL

Saturday February 09, 2013 11:18 AM

The Higher Agency for Upgrade of the Exchange System was formally established on Saturday, as reported by Venezuelan Minister of Planning and Finance Jorge Giordani.

At the head offices of the Foreign Exchange Management Committee (Cadivi), and together with the president of the Central Bank of Venezuela (BCV), Nelson Merentes, and Minister of Petroleum and Mining Rafael Ramírez, Minister Giordani disclosed that by Wednesday after Carnival a great deal of the works intended to streamline the exchange system will be done, following the economic steps announced on Friday.

He underlined that a blueprint will be outlined for the appropriate use of foreign currency, "according to our priorities." The scheme will be submitted to President Hugo Chávez.

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