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New Monetary Reconversion in Venezuela

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Published: 27 Jul 2018 › Updated: 27 Jul 2018New Monetary Reconversion in Venezuela

New Monetary Reconversion in Venezuela

Through a National Chain dió a new announcement of the Government, and is that the Monetary Reconversion will be still in foot to confront the high inflation that experiences the country, aggravated by the shortage of notes that do not cover the demand of the Venezuelans. For this have like spearhead a new monetary cone.

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MONETARY CONE

During the message, the President of the Republic shows an optimism by the effect that can produce the new monetary cone product of the reconversion, which consists in deleting five (5) digits to the monetary reference of the Bolivar, this wants to say that if at present I have in my account 500.000 Bs (Bolivares Strong), already for 20 August when it do effective the start of the reconversion will have the quantity of alone 5 BsS (Bolivares Sovereign), however do not see another thing more than facilitating the calculations and readings that in the current moments and because of the hiper inflation that exists, is used to to be hard to handle.

According to my perspective, and noticing the fault of tarpaulin by part of the Government to confront a caós economic without antecedent in Venezuela, this economic policies implemented only legalizes the inflationary impact speculative that exists in the commercial operation of our Country, besides him dá a push to a new diagram of speculation which will be based in the "round" because of the fault of instrument to access to a product or service of low cost, such sound the cases of the petrol, electrical service, gas, etc, generating therefore greater inflation of which at present lives .

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INFLATION

Besides, to continue with the inefficient control to avoid the extraction of notes and with the absence of management to reduce the speculation inflationary caused by traders and informal distributors, the monetary reconversion would not have any sense, only will be a strategy circunstancial that will lose effect of way almost immediate, and therefore, an useless investment in the impression of the new notes.

In relation to this, and not to be only a criticize, dare to say that one of the indicators of this economic problem is directly related to the increase in the control be a member of this area, thus it is necessary the approach of a new structure where true economists handle the pertinent management in this field. And give him the responsibility to be autonomous.

This has been all by the moments, expect was him of interest.

Thank you very much by his attention

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Written by

Ingeniero En Mantenimiento Mecanico

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