What Are Venezuelan Bankers Trying to Hide?

First of all, even though the Banking Association’s statement omits it, Venezuelans have suffered through currency controls for more than 10 years. The distortions are not generated by websites, social media or any other internet source. Incidentally, these outlets are practically the only independent media left in Venezuela after the government’s harassment of newspapers.Second, even if we don’t use these indicators, the various official exchange rates do not match economic reality. They reflect an artificial value of the US dollar. Third, it is the currency controls themselves that are not transparent, and not these websites. More…