Venezuelan Government clings to economic controls after 10 years
There will be further foreign exchange controls and price regulations
In addition to devaluation, Planning and Finance Minister Jorge Giordani announced on February 8 the incorporation of the Higher Agency for Upgrade of Exchange System. The new institution aims at monitoring in depth the sale of US dollars to companies.
However, economic moves are to come in areas other than the foreign exchange market. Other steps may include widening the scope of price regulations, some government officials have warned.
For instance, Food Minister Carlos Osorio remarked recently that the Government has no intention of lifting price controls. "We are rather going to reinforce regulations. If we have to regulate other products, we will. We will keep on protecting people."
Additionally, the Superintendence of Costs and Prices (Sundecop) announced that it will soon set the selling prices for drugs, among other products.
Translated by Jhean Cabrera
At first she agreed that I use her real name, that she had no problems with that at all. After all, living with HIV had driven her to help others – as a workshop facilitator giving talks and conducting seminars, or as a volunteer for local AIDS Service Organizations like Acción Solidaria (Solidary Action) and Mujeres Unidas por la Salud (Women United for Health, or Musa), a support group network for HIV-positive women. But when we were well into the interview, the realization that she might lose her private health insurance coverage made her change her mind.