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The government of Nicolás Maduro will barely be able to develop a plan for Venezuela to come out of its first hyperinflation if it avoids recognizing it, said a former finance minister of late President Hugo Chávez , the economist Rodrigo Cabezas. The ruling party meets to discuss and propose economic measures for Maduro's second term, Rodrigo Cabeza, who was also an official MP for years, says there will be no debate and "nothing will happen that does not endorse what the president says "
Venezuela has stopped broadcasting inflation figures for three years and in announcements of measures to recover economic this week, Maduro did not not provided data on the price change which, according to the International Monetary Fund, will reach one million dollars. hundred at the end of 2018.
chief told Reuters that there are versions that the government banned ministers from mentioning the word hipe Rinflación
"It is absurd not to recognize her", said the former minister Thursday night at his home in the city of Maracaibo, the second most populous city in the country, which in addition to voracious inflation and lack of food,
In his latest speech , Maduro denounced that from the outside they make an "inflationary war" to the people and have not mentioned the word hyperinflation.
"All hyperinflations came out with monetary programs (…) Venezuela will not go out with rhetoric, it will come out with a stabilization plan and that is what the government must achieve", said Cabeza, who says that he has sent suggestions to Maduro since late 2015 and has not had any answers.
He became a member of the governing board of the ruling party, he participated in an Economic Council that Maduro convened throughout the year 2016, but he was not invited to the last days of reflection.
Venezuela has postponed for the second time a monetary reconversion that will now be at the end of August and will eliminate five zeros to the currency. In this announcement, he announced that he will seek an exchange rate reform and will work on other economic measures, without giving further details.
"There is no professional conduct of Venezuelan economic policy," says Cabeza, in charge of the first monetary reconversion. executed in 2008 the socialist revolution under Chavez.
Now, the former minister teaches economics at the University of Zulia and says that he is separated from his colleagues from the official party, although he is still a member from their ranks. Because his criticism was described by the "neoliberal" government but did not suffer from the ostracism of other dissidents.
Head says that in the Maduro government dominates the idea of avoiding a plan of adjustment and that the country runs the risk of being expelled from the International Monetary Fund for not disclosing reliable figures on economic performance, while they would most need your support to get out of hyperinflation.
"The Venezuelan Central Bank Endangers the Venezuelan Economy"
"After two warnings from the IMF's board of directors, the following may be serious, to exclude," he warns.
ACN / Reuters
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