US dollar supply by October 4.5% above that in 2011

The president of Venezuela's Foreign Exchange Administration Commission (Cadivi) noted that USD 26.9 billion had been supplied by the end of October, 79% of which were for import purposes

EL UNIVERSAL

Monday November 26, 2012 02:05 PM

Manuel Barroso, the president of Venezuela's Foreign Exchange Administration Commission (Cadivi) has informed that by the end of October, USD 26.9 billion had been supplied, 4.5% above the amount authorized during the same period in 2011.

Out of the total amount registered by October, USD 21.3 billion (79%) was oriented to imports; USD 1.2 billion to financial operations; USD 1.8 billion to family-related remittance, students, and special cases; and USD 2.6 billion to travelers, Barroso told state-run TV channel VTV.

Regarding imports he said, "There are no requests that may extend the given periods because of specific situations. The system works as usual."

Cadivi's head added that weekly meetings are held "to discuss some critical situations or problems that may arise and take immediate actions."

Regarding the case of medicines, he noted, no laboratory or pharmacy will say it does not have any medicine because of Cadivi. "It would be bold and irresponsible to say that. Supposedly a medicine request is having some inconveniences, all they need to do is to contact us, inform us about the inconvenience and then we solve it," Barroso remarked.

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