They argue that the cash crisis in the country is worsening Specialists adept to the official policy maintain that mafias prevail

The main consequence of the lack of cash in Venezuela is the "slowdown" of Venezuelan financial operations, which goes from something as simple as not having money to pay for a public transport ticket, experts agree in economics.

The economist Orlando Ochoa highlighted three factors that influence the current shortage of cash, one that the government has made contracts with foreign suppliers of the monetary pieces and has delayed payments, which has problems for its manufacture because it has a high cost.

Secondly, the demand for cash with hyperinflation goes up and that leads to the issuance of larger pieces of the monetary cone.

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In the third instance, it highlights, the illegal contraband activities at the border and the high commission charges that are also made in cash. "So that's a governmental problem, I think the Superintendency of Banks should allow the updating of credit and debit card limits to be faster, updating to the true hyperinflation rate, because larger operations could be made and have fewer difficulties that congest the system of electronic transactions, "said the university professor.

In this regard, he recommended that the population use electronic transactions and use cash rationally, but insisted that the problem is caused by the government's misguided policies.

José Guerra, deputy of the National Assembly, agrees that the shortage of cash in Venezuela is due to "clumsy economic policies" driven by the Government that in July recorded an increase in inflation of 249%, "the highest in the world" , he said.

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"The increase in the prices of products and services is causing cash balances to be insufficient to finance the transactions of the economy," he warned.

The parliamentarian criticized that the Central Bank of Venezuela prints paper money in an inorganic way, because it will only sharpen the crisis instead of solving it, he insisted. "The reality is that there is no cash that the Government said there was, because what we are witnessing in the queues to pensioners who do not receive their money, as promised," said the former director of the BCV.

In his opinion, there is not enough cash and stressed "I get the impression that the cash did not arrive full, because I see no other reason to put our grandparents to go through these calamities," he concluded.

Estimates that in the coming weeks the shortage will worsen and, furthermore, considers that money will not be enough to buy the products of the basic basket.

For his part, Francisco Faraco described as "unusual" that the country is going through a crisis of physical money. "This has never been seen in Venezuela," he said. He rejected that the Government does not take quick measures to solve this problem to the citizens.

"A government that is not even capable of doing what they did in Bolivia when they had that problem. In Bolivia they sealed the tickets, and to the one of 10 thousand they put three more zeros and it happened to be of 10 million. Things like that, measures to alleviate the problem, but not even that here. Here there is no one to deal with the problems, "said the economist.

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While, the president of the National Transportation Coordination (Conatrans), Pedro Rodríguez said that the struggle of the transport sector is in all states, and that the "biggest problems we live on a daily basis, we already live with cash, with the inputs ". He added that "what we want here is a single national policy that will help us find the real solution to this problem that includes us all, on foot, the user, pregnant women, the disabled, all sectors as such. "

For the economist Tony Boza "there has been a problem of control by the State of commercial banking that has been lent to the mafias, because the true chains of fluidization of merchandise have not been intervened," he said.

The tickets go through the borders with Colombia, Brazil and to some islands of the Caribbean, said the conductor of a program on a state channel.

"Cash is being hijacked by some mafias, for use at the borders, and the issue has to do with that there has been an error, a mistake, in the way the problem of cash has been addressed," he added.

Link of the Publication in Spanish: El Universal

My Analysis and Personal Summary of the Publication

Approximately 3 weeks ago the government gave the order that all the banks in the country begin with the filling of the ATMs with the new ticket, which in the last 3 years has been practically disappeared, according to the Government of Venezuela this would be the solution for the economic problems of the country.

The government assures that there is a "conspiracy" against the Venezuelan currency that is directed from abroad. Cúcuta (Colombia) is designated as the epicenter of the bill vacuum, however there is no data to support this thesis, at least not shown by the figures of the Central Bank of Venezuela.

The truth is that the exit of the new monetary cone has not generated any solution on the contrary this has become even more difficult and everything in the country at the level of first and second necessity products have increased by 1,500% in less than a month.

The shortage of cash overwhelms Venezuelans in the midst of the most intense economic crisis they have experienced in their history. Getting tickets to pay for public transport, parking or buying food, requires investing hours of waiting at banks or ATMs and even paying for them.

This situation has generated in Venezuelans a new alert that leaves in question this new decision of the government, which day after day does not get a solution to the economic problem of the country.

A week ago I went to the bank to get some cash and it's crazy what I'm going to say, but last in the queue of the bank for more than 5 hours waiting for my turn to withdraw some cash.

At this point, instead of issuing new banknotes, the Maduro government seems determined to force the passage of the whole society to advance the use of digital transactions. The economist José Guerra, deputy of the National Assembly, commented in his Twitter account that the 100,000 bolivars bill, which was announced in November and that is hardly seen on the street, has already lost 70% of its nominal value. With 100,000 bolivars, any user can barely ask for a coffee with milk sitting at a table.

President Nicolás Maduro is between a rock and a hard place, where the only way out for Venezuelans is for the president once and for all to hand over power and let a new president take charge of the nation.

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Important Note: This Publication is a translation of the Spanish into the English language of the website El Universal, The objective of making these translations is to bring the entire Steemit Community the best content found in the Spanish language.

Page Used as Reference, Support and Source: El Universal

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