President Maduro Instructs Central Bank of Venezuela to Apply Protective Measures for Exchange Rate
The president of Venezuela, Nicolás Maduro, instructed Economy Minister and Vice President Delcy RodrĂguez and the authorities of the Central Bank of Venezuela (BCV) to establish new mechanisms for protecting the national currency, the bolĂvar, and the official exchange rate against new US coercive measures.
“I have entrusted the minister of Economy, Vice President Delcy RodrĂguez, and the board of the Central Bank of Venezuela to establish new technical mechanisms for the defense of the market dollar that has access,” he said.
During the meeting of the National Council of Productive Economy at the Miraflores Palace in Caracas on Friday, March 28, President Maduro said, “Venezuela has the foreign currency to overcome this disturbance and move forward.”
President Maduro also criticized media outlets that obsess over damaging the climate of hope in Venezuela. “That is because they do not live here,” he remarked. “Those of us who live here and the Venezuelans who are abroad, who desperately want to come back, deserve to have a calm and peaceful country.”
He asked the authorities in charge of the economy “to establish a convincing truth against every lie in order to continue moving forward with the government programs. The Ministry of Economy has to maintain the equilibrium in the public coffers.”
He added that expenses must be covered with state revenues and with organic currency issuance “on the path of constructing a balanced, healthy, productive economy, our own.” The President concluded on a high note, “The businesses are doing well, Venezuela is doing well in a win-win formula and thus fighting the economic war waged against the country,” he said.
Trump Administration Launches Major Attack on Venezuelan Economy
Municipal taxes waived
President Maduro instructed economic authorities to suspend municipal taxes on primary productive activities, effective Monday, March 31.
He advocated for unified municipal taxation policies and directed Vice President Delcy RodrĂguez to implement related decisions.
Maduro also announced plans for an “accelerated and comprehensive” import substitution strategy, measures to protect domestic production, and tariff restrictions on luxury goods that he said harm the exchange system.
(Alba Ciudad) with Orinoco Tribune content
Translation: Orinoco Tribune
OT/SC/DZ
