The Venezuelan Academy of Economic Sciences has sent a document to Vice-President for Economic Affairs Rafael Ramírez; the president of the Central Bank of Venezuela (BCV), Nelson Merentes; and Finance Minister Rodolfo Marco Torres, warning them that the economic measures recently announced by the Government do not "correct the imbalances and structure distortions" the country is facing.The scholars have explained that applying the forex rate resulting from the auctions held by the Ancillary Foreign Currency Administration System (Sicad) to some imports fails to meet overvaluation of the country's currency. More...Document in spanish
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