Nicolás Maduro welcomes dollarization of Venezuelan economy and says “it’s a relief”

Venezuelan Chavista leader Nicolás Maduro now emphasizes that dollarizing his country’s disintegrated economy is a good idea. He points out that this is an “exhaust valve” but does not comment that this is due to the fact that the bolivar has lost value due to parasitic emission and the lack of investments .

The heir of Hugo Chávez claims that dollarization now reaches 18.6% of transactions. “A once underground economy has emerged, now open and public, where the dollar is managed, especially at the commercial level (…). The dollar has worked as an escape valve for income, for trade and for the satisfaction of the needs of important sectors of Venezuelan life … It has been an escape valve, ”he said in an in-depth interview with the Franco-Spanish journalist Ignacio Ramonet published by the Mexican newspaper ‘The day’.

Specifically, he said that 77.3% of business transactions in 2020 were made in bolivars through digital payment methods. “So that you can still see the weight of the national currency, and we will get it back,” he said without detailing the argument. “Only 18.6% was made in cash in convertible currencies, mostly in dollars,” he added.

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

The dollar has prevailed in Venezuela due to the total loss in value of the local currency due to the unsupported issuance arranged by the government which faces a hyperinflationary surge and lack of investment. Added to this is the economic blockade established by the US administration of Donald Trump.

Last year, the regime also created a commission to promote the privatization of the oil sector among other sources of wealth in the Caribbean country. Last December he regained control of parliament in a controversial rigged election with the opposition ban. The intention is that Congress in official hands legislates on the transfer of these assets to a group of international partners, among which Russia, Turkey, Iran and China stand out.

Maduro condemned dissent which he criticized as “extremist” over the opposition’s decision not to stand for parliamentary elections due to the shrinking electoral system and without reliable international observers.

“Much of the blame (…) is on the European Union and the governments of Europe. Not just Donald Trump, because who followed Donald Trump’s chorus has been the European Union, supporting all barbaric policies, right-wing extremism, all senseless and invincible policies, ”Maduro said without commenting on the complaints against his regime.

The Chavist leader has described dissent as the right with the narrative that the government he leads is left or socialist, a question denied by analysts who instead describe it in minute formats. “A good part of the fact that the Venezuelan right, the opposition, must enter into a policy of common sense, of participation, of dialogue, has to do with this European Union which influences so much the minds of these political leaders in this sector of the opposition. let the European Union talk to them about dialogue and help them to think and rectify, ”he said.

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

A previous attempt at a recall referendum was violated by the regime, which ignored the excess signatures the opposition had collected and succeeded in blocking the process due to the regime’s weak support among the population.

In the interview, he attacked the US government. “I have always said: I hope that with the departure of Donald Trump, his extremist and cruel policy against Venezuela will hopefully disappear and dialogue with (Joe) Biden and with the United States will be reestablished on the basis of a constructive program. Hopefully hopefully. “, said.

However, he 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. Yesterday I received information about this thief and murderer named Leopoldo López: he is recruiting, in Washington, two lobbying companies close to the Democratic Party to start lobbying for extremism Venezuelan just before the new government of Biden “, indicated.
Caracas, agencies
MC