ESPACIO PUBLICITARIO
CARACAS, Wednesday February 27, 2013 | Update
 
|
share
|
FINANCE

Venezuelan gov't investigates the recipients of US dollars through Sitme

Bank of America forecasts a system to sell US dollars in cash

Domestic economy in need of US dollars (File photo)
EL UNIVERSAL
Wednesday February 27, 2013  02:51 PM
In an attempt to find irregularities, the Venezuelan Government has undertaken a series of audits in companies that received US dollars via the recently eliminated Transaction System for Foreign Currency Denominated Securities (Sitme).

The system allowed companies to buy US dollars through a bond sale market. According to the regulations, only the importers of products not listed as priority goods could apply for US dollars at Sitme. As for the importers of listed products, the request for foreign currency should be made at the Foreign Exchange Administration Commission (Cadivi).

Auditors currently seek companies that requested US dollars from Sitme to import priority goods, as well as companies that eventually did not import the products for which they were sold US dollars.

The authorities are also probing importers which sought US dollars via Sitme after having been refused a certificate stating that the products to be imported were not produced at home. Is that illegal? There are no regulations for such matter and some banks approved applications that could now be challenged.

US dollars delivered via Cadivi are also subject to auditing.

Sources of the central bank reckon that the Government may come up with a substitute of Sitme and measures to relax the US dollar sale.

Likewise, a report compiled by Bank of America forecasts a system whereby US dollars in cash may be sold to enterprises.

Translated by Jhean Cabrera
|
share
|
ADVERTISING SPACE
Dossier
And they found the jail

At least 30 years had passed since his last visit to Caracas. He had little time to become an expert on moving about in such a complicated metropolis. Whether it was hopping on the subway, finding directions, playing waiting games at public agencies, eating whatever he could and sleeping wherever he could, Guerrero senior had been wandering the streets for 60 days, and thanks to "the boys" he found some sort of relief by way of helping hands.

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