ESPACIO PUBLICITARIO
CARACAS, Monday February 11, 2013 | Update
 
|
share
|
DEVALUATION

Venezuelan Government clings to economic controls after 10 years

There will be further foreign exchange controls and price regulations

EL UNIVERSAL
Monday February 11, 2013  05:57 PM
One decade of regulations seems not to be enough for the Venezuelan Government. It has been 10 years since the first foreign exchange controls and price regulations were enforced. However, further restrictions have been announced by the Executive Office.

In addition to devaluation, Planning and Finance Minister Jorge Giordani announced on February 8 the incorporation of the Higher Agency for Upgrade of Exchange System. The new institution aims at monitoring in depth the sale of US dollars to companies.

However, economic moves are to come in areas other than the foreign exchange market. Other steps may include widening the scope of price regulations, some government officials have warned.

For instance, Food Minister Carlos Osorio remarked recently that the Government has no intention of lifting price controls. "We are rather going to reinforce regulations. If we have to regulate other products, we will. We will keep on protecting people."

Additionally, the Superintendence of Costs and Prices (Sundecop) announced that it will soon set the selling prices for drugs, among other products.

Translated by Jhean Cabrera





|
share
|
ADVERTISING SPACE
Dossier
Is protest over?

That political protest in Venezuela has lost momentum seems pretty obvious: people are no longer building barricades to block off streets near Plaza Francia in Altamira (eastern Caracas), an anti-government stronghold; no new images have been shown of brave and dashing protesters with bandanna-covered faces clashing with the National Guard in San Cristóbal, in the western state of Táchira; and those who dreamed of a horde of "Gochos" (Tachirans) descending  in an avalanche to stir up revolt in Caracas have been left with no option but to wake up to reality.

fotter clasificados.eluniversal.com Estampas
Alianzas
fotter clasificados.eluniversal.com Estampas
cerrar