Venezuela’s Sicad II gets tentative thumbs up

Venezuela’s Sicad II gets tentative thumbs up

Venezuela Economy & Policy Corporate & Sovereign Strategy

Sicad II, Venezuela’s new foreign exchange regime, has been greeted with cautious optimism by analysts who say it could cut the country’s deficit. The new law, announced last week, makes it legal to buy and sell dollars privately. It is likely to result in a much-needed devaluation of the Venezuela bolívar, analysts said. Sicad II allows public sector institutions to sell dollars at a higher price than the official rate of 6.3 VEF, according to Barclays analysts. The probability success in t

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