Venezuela halves yearly allowance for travelers to USD 2,500

The decision becomes effective as of Thursday January 1, 2009 and also includes a reduction in monthly cash advances to USD 250, that is, half of the current amount

The allocation for Internet shopping remains at USD 400, while the annual permit to cash advances will be USD 500 or EUR 400, depending on the destination country. Until now, such provision was USD 600 or EUR 500 (File Photo)

Economy
The government announced on December 31st the reduction of the annual allowance of dollars that the Foreign Exchange Administration Committee (Cadivi) authorizes for travelers going abroad, from USD 5,000 to USD 2,500, under a decree published in the country' Official Gazette No. 39,089.

The decision becomes effective as of Thursday January 1, 2009 and also includes a reduction in monthly cash advances to USD 250, that is, half of the current amount.

The allocation for Internet shopping remains at USD 400, while the annual permit to cash advances will be USD 500 or EUR 400, depending on the destination country. Until now, such provision was USD 600 or EUR 500.

Under Article 14 of the decree, the Official Gazette provides that travelers will be able to use up to three credit cards of the same issuing bank, up to the new amount allowed by Venezuelan authorities.

Translated by Gerardo Cárdenas

Cristina Hossne / Mayela Armas
EL UNIVERSAL

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