ESPACIO PUBLICITARIO
CARACAS, Thursday March 20, 2014 | Update
 
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Sicad 2 starts up on Monday, March 24

According to Venezuelan Vice-President for Economic Affairs Rafael Ramírez, the scheme is being tested with the help of financial brokers

Ramírez is positive that foreign currency is enough to meet the market (File photo)
EL UNIVERSAL
Thursday March 20, 2014  03:11 PM
The second Ancillary Foreign Currency Administration System (Sicad 2) will start operations on Monday, March 24, as reported by Venezuelan Vice-President for Economic Affairs Rafael Ramírez.

"Sicad 2 will start up on Monday, March 24, upon completion of all the testing of the system together with operators," the senior officer twitted.

Minutes later, he said on state-run TV channel VTV that there will not be middlemen in the scheme and that demand "would be satisfied with supply." He clarified that there will not be ceiling for the foreign currency coming in the system and that there is enough to meet the stock market. Ramírez commented that public banks and the oil sector have been authorized to place financial instruments in that market.

Ramírez added that he had met with the operators authorized to start operations "perfectly" that day. He promised a meeting on Friday with brokerage firms.

 
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