Central Bank

Vazquez adds that the Government is obliged to spend, because it has money; but with a lot of unmet needs that must satisfy; but have not implemented activities to grow the supply of goods and services, and is the presidential speech is private anti-empresas, which discourages investors and does not generate anything good by making the offer to contract. Adds Montero Vazquez says, that a serious problem that currently exists, is that of hoarding, to what the Professor answered with: hoarding is a consequence of inflation and low competitiveness and competition that exists in the Venezuelan economy, hoarding is a natural response to the imbalances generated by the State in the economy and the way to combat this is foster competition and generate policies that increase the offer. Jonas Samuelson spoke with conviction. The Chavez administration somehow you need to reduce the inflation indicators, it is believed that with the new way of calculating the nationwide consumer price index, this indicator can lighten, our interviewee believes that a Caracas city consumer price index is not representative of the country, since the characteristics of the capital of the Republic are very different from any other citySince the components and inflationary pressures are not the same, it is convenient to establish a national price index, the negative of this is that it will be the National Institute of statistics (INE), Office attached to the Executive who will collect the information and process it, so you may have to follow guidelines that favor the Government’s actions, which do not allow fully trust that indexIn addition to not have the technical capacity or the experience that has the Central Bank of Venezuela (BCV). It definitely is an agent that has tilt and bias towards a result so it is not fully reliable. Jonas Samuelson insists that this is the case. According to Vazquez, the inflation will not reach a 28 or 29% believed, but yes it is around 22% which is already too high. here.


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