Executive Branch Modifies Economic Reopening Plan
8 junio 2020

A new lockdown relaxation regime was introduced in Venezuela on June 8. The previous mechanism, which established five days of economic activities and ten days of lockdown, has now given way to seven days of economic reopening followed by seven of lockdown. Venezuelans must stay at home this week, while the seven-day flexibilization is set to begin June 15. Once those seven days are over, a new stage of national quarantine should be put in place, unless the Executive branch comes up with a new scheme to tackle COVID-19.

In this regard, the Superintendency of Banking Institutions (Sudeban, in Spanish) published a circular specifying the activities that banking institutions are required to offer during the upcoming seven-day quarantine. These include granting loans, ensuring that electronic payment means are functioning properly, and issuing credit and debit cards to customers. It also establishes when each banking institution can operate during the week of relaxation beginning June 15. For example, Citibank may serve the public on Tuesday June 16 and Thursday June 18, and legal entities on Friday June 19.