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The Venezuelan Parliament asks the Government to dismantle the exchange control

The Finance Committee of the National Assembly of Venezuela (AN, Parliament) today requested the Government of Nicolás Maduro to dismantle the exchange control, installed since 2003, and to which they attribute the inflationary situation that the Caribbean country is experiencing.

Caracas, Nov 27 (EFE) .- The Finance Committee of the National Assembly of Venezuela (AN, Parliament) today requested the Government of Nicolás Maduro to dismantle the exchange control, installed from 2003, and to which they attribute the inflationary situation that lives the Caribbean country.

"The main responsible for this inflation and economic crisis that we are living is the distorted control of change that the Government has ", said the deputy Rafael Guzmán, member of the commission in press conference.

The legislator, who was accompanied by the other members of the Finance team of the Parliament, asked the Government to promote free competition if what it seeks is to protect the consumer.

In 2003 the late President Hugo Chávez (1954-2013) It took the decision to install an exchange control to prevent the flight of foreign currency and since then the Government has created different agencies that exchange foreign currency under different methods.

The most recent has been the auction system for individuals and legal entities that stopped allocating foreign currencies four months ago when the price was placed at 3,345 per dollar, 25 times less than the mark on Monday afternoon of the parallel market that can rise or fall slightly, at least twice, in a single day.

Likewise, at present the Government also has another exchange control system that is a "preferential" dollar at 10 bolivars, 10,000 times less than what a candy costs in the country, whose minimum price is 1,000 bolívares.

With a "10,000-dollar bill, a few-go to the Central Bank and give a thousand dollars" while "the vast majority of Venezuelans to be able to buy" It has to go to the parallel market, said Guzmán, who pointed out that 60% of the raw material products are imported by the black market.

According to the government measures, the dollar 10 bolivars is for companies that import basic products, such as medicines and some foods, however, the main Venezuelan employers and merchants have assured that they do not they receive foreign currency of any kind from the Government since August.

"The Venezuelan economy is feeding Venezuelans who are abroad sending resources to Venezuela for via non-transparent (...) we are talking about an economy, some allocations of currencies that exceed two and three times the allocations of official sightings, "he said.

" The country is being entering more than 1,000 million dollars as a result of remittances and these are figures from multilateral organizations (...), the Government has to understand that this policy of exchange control failed, "he said.

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