Venezuela trims US dollars for imports; prompts Sucre
Central bank says over 300 companies use Sucre
In 2012, the Venezuelan Foreign Exchange Administration Commission (Cadivi) implemented a strategy to stimulate the Unified System for Regional Compensation (Sucre) as a mechanism to import and cut down the sale of US dollars for import via both regular operations and the Latin America Integration Association (Aladi).
Sucre is a common account unit worth USD 1.24, used by Member States of the Bolivarian Alliance for the Peoples of Our America (Alba); it allows Venezuelan enterprises to pay in bolivars imports from Cuba, Nicaragua, Bolivia, and Ecuador.
According to Cadivi's data, Sucre's overall operations in 2012 amounted to USD 2.75 billion, 478% above the figure recorded a year earlier.
In the meantime, regular operations via Cadivi accounted for USD 18.17 billion, 7% below those recorded in 2011. Moreover, bond sales under Aladi went down 4.5%.
In late 2012, BCV's President Nelson Merentes asserted that "300 enterprises operated under Sucre by the end of 2012, 99% of which belong to the private sector."
Translated by Jhean Cabrera
No pellets, tear gas or 9mm firearm projectiles were enough. Several unpublished videos confirm what some witnesses had already warned in the very afternoon of February 12: that day, the Bolivarian National Intelligence Service (Sebin) shot a different type of bullets whose ammunition shells were picked up by the very officers who triggered the weapons.