Venezuelan Government formalizes changes in foreign exchange policy
The Higher Agency for Upgrade of the Exchange System -established under Decree 9,381- is the body that is to govern the exchange policy above the Foreign Exchange Administration Board (Cadivi).
The Official Gazette No. 40,108 of February 13, 2013 also included the Exchange Agreement No. 14, following the decision to devalue the Venezuelan currency from VEB 4.30 per US dollar to VEB 6.30 per US dollar.
At the recent UN climate summit President Nicolás Maduro gave a speech on global warming highlighting the fact that "Capitalism has ignored over decades nature's capacity to load and recover," and, accordingly, "if we want to change climate, we need to change the system."