Ciudad Guayana. - The Venezuelan economic spectrum has been described repeatedly by economists as worrying as the policies with which the head of state has managed the country's finances have been the most successful in terms of growth. Currently the country's cash reserves have been reduced to a minimum, so we have sought backing in gold, which seek to increase sales and cash flow and pay for imports of which depends on domestic consumption.

For the economist José Ricardo Salazar, government strategies could be described as deranged, since gold was returned because "supposedly" was "delivered" in the Bank of London, but the real background was needed to reach the appeal sales of the same.

Salazar says the situation is delicate and should be done a searing exposure to this maneuver of the National Executive, recalled that just started making uncontrolled use of oil revenue. "First it was a little billion, then another and so more. We are more than 85 billion dollars that has been earmarked from the BCV to Fonden and Petroleos de Venezuela ".

Now point to the mineral reserves of the country more stable now being threatened, their sale started since entering the coffers of the national bank. So far this year have offered more than 10 tonnes of gold.

"Knowledge is also, according to the latest International Monetary Fund report on the movements of gold, which the Venezuelan Cabinet had sold over 3 ½ tons of the precious metal."

This in view of financial analysts is understandable, since this administration has had a historic oil boom, with prices of a barrel above $ 100, in addition to Venezuela's largest debt, which currently is in the order of 150 billion dollars.

"The government seems that this has not been enough, but now appeals to higher component we had of our currency reserves, because gold represents about 70% of what we have now in the coffers of BCV, which set with what we have in the IMF special drawing rights and very little of liquidity are our total deposits, which are the guarantee of the stability of our currency and the commitments that are acquiring the country by way of imports. "

According to the economist, the BCV is acting under pressure from the national president, has attended a practice "abnormal" buying and selling the metal as a result of foreign exchange shortages that exist in this time and that causes can not be met with commitments towards entrepreneurs and producers.

"We have to understand that this is leading to a great weakening of international reserves, in fact this week closed at a limit of about 24 thousand 400 million dollars, which represents the lowest level that has been since the 80. "

The analyst assumes that the directors of the national bank little concerned about these levels, and the government appears to be "scraping the pot" because you are using the most resources left for current expenditure and public.

Also inferred that it is no coincidence that this is being given at election time, as the upcoming elections need all the financial boost and this is also done through public expenditure.
however, clarified that the injection of this money will not solve the existing deficit, much less controlled inflation and low manufacturing production. All this decay rebounds unemployment rate today is in the order of 6 million.

"On Alert"

Salazar called care, which required the country's economic authorities to manage finances is clearly and discretion. "This money is not the government of the day, is all Venezuelans and is the guarantee of the stability of our currency, the Bolivar otherwise deteriorate and policies continue to retrieve a situation like this will be of great harm to the population general ".http://www.nuevaprensa.com.ve/site/articulo/52335/EnVenezuelaestamosbajounapolticaeconmicadesquiciada/