Nicolás Maduro praises the dollarization of Venezuela’s economy and says “it is a relief”

The Venezuelan Chavista leader, Nicolas MaduroNow highlights as a good idea the dollarization of the disintegrated economy of his country. He points out that it is “an escape valve” but does not comment that it is because the bolivar it has lost value due to spurious issuance and lack of investment.

The heir to Hugo Chavez argues that dollarization now reaches 18.6 percent of transactions. “A previously surreptitious economy has emerged, now open and public, where the dollar is managed, especially at the commercial level (…). The dollar has functioned as an escape valve for income, for trade and for satisfaction of needs of important sectors of Venezuelan life … It has been an escape valve “, he pointed out in an extensive interview with the Spanish-French journalist Ignacio Ramonet published by the Mexican newspaper ‘The Day’.

Specifically, he said that 77.3 percent of commercial transactions during 2020 were made in bolivars by digital payment methods. “So that you can still see the weight of the national currency, and we are going to recover it,” he said without detailing the argument. “Only 18.6 percent was made in cash in convertible currencies, mainly dollars,” he added.

“It means that the dollar is a safety valve. You cannot say that Venezuela it is like Ecuador for example, a dollarized economy. It does not depend on the US Department of the Treasury like Panama. No “, it was justified.

The dollar prevailed in Venezuela due to the total loss of value of the local currency due to the issuance without support arranged by the government that faces a hyper-inflationary shootout and the absence of investments. Added to this is the economic blockade ordered by the US administration of Donald Trump.

Last year, the regime also established a commission to promote the privatization of the oil business among other sources of wealth in the Caribbean country. This December, he regained control of Parliament in a controversial rigged election with the opposition banned. The intention is that the Congress in official hands legislate the transfer of these assets to a group of international partners among which Russia, Turkey, Iran and China.

Outgoing US President Donald Trump. AFP

Maduro condemned the dissidence he criticized as “extremist” due to the opposition’s decision not to appear in the legislative elections due to the meticulousness of the electoral system and without reliable international observers.

“Much of the blame (…) is on the European Union and the governments of Europe. Not only Donald Trump, because who has followed the chorus to Donald Trump has been the European Union, supporting all the policies of barbarism, of right-wing extremism, all the foolish, unpresentable policies, “said Maduro without commenting on the complaints against his regime .

The Chavista leader described the dissidence as the right wing with the narrative that the government he heads would belong to the left or to socialism, a question denied by analysts who describe it rather in minute formats. “A good part of the fact that the Venezuelan right, the opposition, must enter into a policy of good sense, participation, dialogue has to do with that European Union that influences the minds of those political leaders of that sector of the opposition so much. that the European Union speak to them about dialogue and help them to reflect and rectify “, he stated.

In that sense, he recalled that in 2022 it is possible that the signatures will be gathered for the celebration of a recall referendum against his mandate. “If someone from the opposition wanted to collect the signatures, and collect them, complying with the constitutional and legal requirements, we, in 2022, would have a recall referendum, we would also measure ourselves,” he explained, and in 2024 “rain, shine or lightning, in Venezuela there will be presidential elections, “he added.

A previous attempt for a recall referendum was violated by the regime, which ignored the excess signatures that the opposition had collected, and managed to block the process due to the low support of the regime in the population.

In the interview he attacked the US government. “I have always said: hopefully with the departure of Donald Trump his extremist, cruel policies against Venezuela will go away, hopefully, and dialogue with (Joe) Biden and with the United States will be reestablished based on a constructive agenda. Hopefully, hopefully “, has declared.

The opposition leader Leopldo López, mentor of deputy Juan Guaidó, and his Lilian Tintori, in an image in Madrid where the marriage is based.  EFE

The opposition leader Leopldo López, mentor of deputy Juan Guaidó, and his Lilian Tintori, in an image in Madrid where the marriage is based. EFE

However, he has warned that the opposition is already working to continue Washington’s hostile policy towards Venezuela, in particular through opposition Leopoldo López and pressure groups or ‘lobbies’.

“There is a lot of lobbying. I received information yesterday about this thief and murderer named Leopoldo López: he is hiring, in Washington, two lobbying companies close to the Democratic Party to begin lobbying in favor of the Venezuelan extremism of right before the new government of Biden “, has indicated.
Caracas, agencies


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