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Latin America

COLGATE4

(14,886 posts)

8. They have several different rates. No other country is prepared to

Reply to Ghost Dog (Reply #7)

Sat May 21, 2016, 10:52 AM

May 2016

sell to Venezuela except for dollars now. That's why airline tickets in VZ can only be paid for in dollars, cell phone service the same. In a country like Venezuela, any job is a treasure. Throwing thousands out of work because they 'are not very vital industries' is not conducive to internal harmony.
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Coca-Cola Forced To Stop Production In Venezuela [View all] Bacchus4.0 May 2016 OP

Car parts, barley, sugar... Ghost Dog May 2016 #1

They can't get the dollars to import raw materials Bacchus4.0 May 2016 #2

You say the likes of Toyota, Coca- Cola, and the country's Ghost Dog May 2016 #3

They don't in Venezuela. That's why Ford and Coca Cola closed shop Bacchus4.0 May 2016 #4

Oh, indeed, why, temporarily, operate at a loss? Ghost Dog May 2016 #6

Yes, they need to implement more domestic production but not collectivisation Bacchus4.0 May 2016 #13

How would the government be able to import things? hack89 May 2016 #14

It's not complicated. COLGATE4 May 2016 #5

Ok, thanks. So the government runs a variable- rate exchange control Ghost Dog May 2016 #7

They have several different rates. No other country is prepared to COLGATE4 May 2016 #8

What happens if the exchange controls are eased Ghost Dog May 2016 #9

They can't. They don't have enough dollars. In addition, the economic dislocation is so COLGATE4 May 2016 #10

Yes. But rather than a return to 'normal', Venezuela's economy Ghost Dog May 2016 #11

The VZ government was moving in that direction when Chavez was COLGATE4 May 2016 #12

That would require an enormous infusion of foreign capital hack89 May 2016 #16

US dollars are the currency of the global economy hack89 May 2016 #15