Asdrúbal Oliveros clarifies that the measure on the BCV is a "flexibilization": "It can reduce the parallel if combined with other factors"
The announcement by the United States reducing sanctions on the Central Bank of Venezuela and public banks is received with approval by experts in the field. For economist Asdrúbal Oliveros, such an action is not a total lifting, but a “flexibilization,” as it continues to narrow the scope of action for the issuing entity. Despite this reality, Oliveros said it is an “excellent first step” that was expected after the measures in the oil sector.
TL;DR
- US reduces sanctions on Venezuela's Central Bank and public banks.
- Economist Asdrúbal Oliveros describes the action as a "flexibilization," not a total lifting of sanctions.
- This step is seen as a positive beginning, expected after oil sector measures.
- Potential benefits include improved foreign exchange allocation, reduced exchange gap, and lower inflation.
- Other potential benefits include wider access to foreign currency, improved payment mechanisms, and crypto-banking integration.
- Oliveros stresses that this measure alone is insufficient, requiring fiscal discipline and modified auction conditions to be fully effective.
- The "triangle" of necessary actions includes the current sanction flexibilization, fiscal discipline, and changes to auction conditions.