VENEZUELA

On May 12, the Finance Sub-Committee of the National Assembly and the National Superintendency of Securities (Sunaval, in Spanish) met to analyze the functioning of the securities market in the country. Both entities agreed to continue working together to strengthen the country’s economy through the capital market. On the other hand, Venezuelan President Nicolás Maduro urged the whole country to advance in the consolidation of the digital economy, and is expected to announce measures along these lines in the coming weeks.

The head of the Sunaval, Carlos Herrera, highlighted the relevance of the securities market as an alternative and complementary tool of the national financial system. In this sense, he spoke about the actors and instruments used in the capital market to generate profits and stimulate productive development. 

On the other hand, President Maduro listed a series of instruments in force aimed at promoting the use of digital means of payment and containing the devaluation of the national currency and dollarization. For example, the C2P interbank mobile payment, the Petro cryptocurrency and foreign currency bank accounts.