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In 25 days will come into circulation the new cone monetary as announced by the President Nicolás Madur or on the national network on Wednesday evening 25 July. Although economists agree that the news notes ranging from 0.50 sovereign bolivars to the 500 Bs.S, will facilitate payment methods, insist that the measure does not. will not stop the loss of purchasing power Venezuelans
"Unfortunately, nothing is done to alleviate the cause or correct the problem, which is hyperinflation ", assured the economist Sary Levy.
"In principle three zeros would be removed from the currency Now there are five and it may be that by August 20, when the new currency cone comes into force, it will be six zeros The hyperinflationary acceleration is a fact, "adds the university professor
Read also: José Guerra warns that no economic measures n & # 39; 39, attacking hyperinflation
Rosamnis Marcano, economist of the firm Econometric insisted that the new cone "does not solve the problem of inflation "and that, to curb the price increase ] it is necessary that the government reduce the budget deficit . How? With measures such as the production of new entries of foreign currency the external financing service adjustments and the elimination of subsidies .
With the monetary conversion, the minimum total income of Venezuelans will increase from Bs. 5 196 000 to 51.96 sovereign bolivars . Not only the number is reduced, but also the power of purchase of those who receive the salary.
"These 51.96 sovereign bolivars will have lower purchasing power by 20 August The minimum wage is no longer enough to pay for life and the government ] went on to increase the salary to opt for the award "said the researcher of Econometric .
Marcano emphasizes that the monetary conversion was necessary "for a long time" because the electronic payment systems were they were affected by the amount of zeros in the amounts. "We see that you have to pass the card several times for a point because there is a limit (for the amounts)," he added.
However, it is difficult for the quantity to be less than 30 days from entry into force sufficient to feed the Venezuelan economic system and to introduce a new family of notes to replace the current cone.
"They are likely to reconversion again.When you have five zeros of difference, it becomes almost impossible for both families of notes to coexist . cone will have to completely replace the existing cone, "explained Marcano.
Levy does not consider it unrealistic, but insists that there be a period of coexistence transition and that there should be a very clear difference between the two cones . "Some tickets will be for very small units and others for very large units," he said.
See also: The announcements of monetary redenomination left more questions than answers
The payment for services such as toilets, l & # 39; Water and Gasoline is one of the major issues left by the government since it announced the monetary reconversion first three zeros and now five. The smallest denomination coin, of 0.50 sovereign bolivars, is still above the current price fuel .
However, economists consider that the arrival of the new monetary cone entails an "implicit" increase in this type of services
"What will happen, it will happen. is either the service will be increased, or it will be left for free as occurred with the Caracas Metro in the latter case.There is no way to collect the current liter of essence in sovereign bolivares . With the monetary reconversion the services are adjusted implicitly ", said Marcano
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