On March 22, Venezuelan President Nicolas Maduro announced a package of economic measures to address the crisis caused by the COVID-19 pandemic in the country. Some of the most relevant measures are a six-month suspension of all credit obligations granted by banks to individuals, and special bonuses for workers in the informal economy, and private companies. They are already in force.
Maduro’s announcements include the following:
- Extension of the ban on employee layoffs through December 31, 2020.
- Immediate suspension of business rental costs for 6 months.
- Special bonuses for workers in the informal economy and private companies through Sistema Patria.
- Six-month suspension of all credit obligations granted in the country.