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Venezuela is inundated with electronic money, but not because it is an economy where technology dominates or because it has materialized the ideal paperless life that some developed countries aspire to.
July (latest data available) The Central Bank of Venezuela reported that in the country 98.34% of the bolivars that circulate are electronic or otherwise seen: only 1.66% is effective.
The government has remained The supply of liquidity has been lacking for more than a year and a half so that it can not increase in proportions that would not cause a crisis because of the acceleration of the increase in liquidity. Venezuela 's central bank (BCV) has tightened the throttle of monetary injection and so far this year has risen 1.763%.
The abundance of electronic money has caused Internet transactions or payments with the point of sale to be common to cancel a treat at a taxi ride. All this in a technological platform that is easily saturated by the lack of maintenance and new investments.
Experts estimate that a sufficient level of money should be between 10% and 12%, a percentage that is not seen in country since the beginning of 2016.
Get tickets at Venezuela has become a complicated task. This experience was experienced this week by elders who have been authorized by the government to withdraw 2,000,000 Bs from the 8,400,000 Bs deposited by this benefit. This situation provoked protests in various parts of the country.
During the week ended July 13th, monetary liquidity recorded the second largest increase with 18.13% (Bs 364 billion) to reach 2,372.6 billion total of 71 consecutive weeks with liquidity on the rise.
Of this total, 91.1% are sight deposits and 7.3% savings accounts
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