Maduro Presents Economic Reopening Plan
Venezuela
31 mayo 2020

On May 31, the Executive branch presented its economic reopening strategy involving two phases that will alternate periodically. The first phase consists of five days where nine non-essential economic activities will be allowed, whereas the second phase only contemplates essential activities such as the food and health sectors during ten days of national lockdown. The first phase began June 1.

As of May 31, time slots have been put in place for nine non-essential economic sectors, set to operate during the five flexibilization days, including banking agencies (from 9 am to 1 pm). In this regard, the Banking Sector Institutions Superintendency (Sudeban, in Spanish) published a circular establishing the days when each banking institution can operate. Citibank may serve the public on Tuesdays and Thursdays, and legal entities on Fridays.

Once this phase ends, the ten-day stage of total quarantine will begin, which in turn will be followed by a new phase of flexibilization for five days. The Executive did not specify how long this rotating phase scheme is to last.

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