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Message: Pdvsa “burning fire” $ 150 weekly million in market permutes

Pdvsa “burning fire” $ 150 weekly million in market permutes

posted on Mar 03, 2009 01:56AM
Pdvsa “burning fire” $ 150 weekly million in market permutes
Tuesday, 03 of March of 2009

According to the economist Jesus Cacique, “Petroleums of Venezuela (Pdvsa) are “burning” about 150 million weekly dollars in the market permutes, which represents 7,2 millardos of dollars the year, which allows him to cover its needs with flow of box to a rate of change official and not to generate cost public”. “This operation directly benefits the government whom it has a serious problem from fiscal deficit, that is to say, box, and this way it generates bolivars to a type of change that is not the official”, it assured.

The case is that the denominated market permutes specifically is prohibited by the law against illicit the exchange ones, “these operations is to the margin of the change control and constitutes a devaluation de facto, because the importers who do not secure official dollars will buy these currencies to the rate of the market permutes and will have to fit to their prices in agreement with the rate of change nonofficial”.

Pdvsa comes conducting operations in the market from the dollar permutes, just as the Bottom of National Development (Fonden), on the supposed existence of a rate of parallel change used through mechanism with dollars transferred directly from the Central bank of Venezuela (BCV) and Petroleums from Venezuela to the executive, it limited Cacique.

Finally, it honored the specialist who, “this only generates imbalances and corruption economic”. Intopress

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