"
This is how dollarization, which was deemed “unconstitutional” by Nicolás Maduro, became an “escape valve” for the economic crisis, as the chavista leader himself admitted in front of the media on December 9th.
And, while Maduro insists on saying that “we don’t have a dollarization of the economy because our official currency isn’t, and never will be, the dollar,” in every corner of the country you can pay in dollars; from a simple snack to fuel, food, and entertainment services. Henkel García, president of the economic firm Econométrica, says that there are between 2 billion and 4 billion dollars currently circulating in Venezuela, as opposed to the equivalent of 500 million dollars in bolivars in circulation in cash or electronic money."
https://www.caracaschronicles.com/2021/01/30/no-change-in-dollars-a-new-challenge-for-venezuelans/
This is how dollarization, which was deemed “unconstitutional” by Nicolás Maduro, became an “escape valve” for the economic crisis, as the chavista leader himself admitted in front of the media on December 9th.
And, while Maduro insists on saying that “we don’t have a dollarization of the economy because our official currency isn’t, and never will be, the dollar,” in every corner of the country you can pay in dollars; from a simple snack to fuel, food, and entertainment services. Henkel García, president of the economic firm Econométrica, says that there are between 2 billion and 4 billion dollars currently circulating in Venezuela, as opposed to the equivalent of 500 million dollars in bolivars in circulation in cash or electronic money."
https://www.caracaschronicles.com/2021/01/30/no-change-in-dollars-a-new-challenge-for-venezuelans/
