When Venezuela is no longer an option: How a country’s central bank may help save it
Colombia newspapers reported that Venezuela’s central banking authority is considering selling its remaining currency to raise more money to keep it afloat.
The country’s government has repeatedly stated it will not use its reserves to bail out its debtors.
In fact, the country’s economy is already in recession and inflation is high.
However, the new currency, the Bolivar, is not in circulation and would be subject to a 10% haircut by the central bank.
The Bolivard is a Latin American currency that has been around since the late 1800s.
It was adopted in 1980 and has been used in Latin America and the Caribbean since then.
A number of countries have used it for years, including Argentina, Brazil, Ecuador, Colombia, El Salvador, Guatemala, Mexico, Peru, Venezuela and Uruguay.
Venezuela’s currency was last devalued by 90% in October 2018.
However the government’s decision to sell the bolivar comes after months of speculation that it may not be a long-term solution to the countrys debt problems.
As of July 1, 2018, the central government’s surplus was $6.3 billion, according to the central-bank’s budget.
But the country has been in debt since 2015, when its central bank devalued the bolívar, resulting in a massive loss of money.
The government then introduced an unpopular austerity program that has resulted in a steep drop in the countryS economic growth is forecast to decline in the near future.
In 2017, the Venezuelan government devalued its currency, but the devaluation has been reversed in 2018.
The central bank has said it would keep the bolivoar at $10.30 a bolivard.
But, if the government continues to use the bolivanas currency, that could change.