International reserves are located at U.S. $ 41.86 billion


Caracas, Jan. 20 ABN .- The Venezuelan international reserves are located until Monday January 19 this year at 41 thousand 862 million dollars, according to the latest statistics from the Central Bank of Venezuela (BCV).

Of the total, that 41 thousand 034 million dollars are in the issuing entity and 828 million dollars in the Macroeconomic Stabilization Fund (FEM), created in 1998 with the objective that the fluctuations of the Venezuelan oil revenue is not affect the fiscal balance, monetary and exchange rate nationally.

The difference between the price of the Venezuelan basket and the goal of realization (sale) of oil set in the budget of the Nation is what feeds the WEF, formerly Investment Fund for Macroeconomic Stabilization (FIEM).

Quarterly, the BCV and Petroleos de Venezuela (PDVSA) reviewed and if the price is equal to or greater than the past five years the resources are deposited in that fund.

In fact, the government reviewed all imports arriving through the Convention on Payments and Reciprocal Credits for the Latin American Integration Association (ALADI), aiming to be more strict in granting foreign exchange.

Having an optimal level of reserves so it is good for the country because it gives confidence to foreign investors and enhances our global rating. LOL (my comment)

The revenue from high oil prices have been sustained in large measure to the international reserves of Venezuela, being one of the world's oil exporters.

In theoretical terms, international reserves are a set of funds represented in currency, money or similar saved as a forecast of possible needs or for legal or contractual reasons, are made up of foreign assets (amount of gold and currency) which has a country to meet its international commitments, which are controlled by the Central Bank of Venezuela.