Luis Bárcenas: “Banks will now have less Bs.S to lend”

Within the framework of new economic measures, the Central Bank of Venezuela applied a new banking reserve in less than one month. On this occasion, the entity decided to apply 60%.

As established in the statement regarding this action, it is “part of the articulated work between the issuing body and the national Executive to achieve the macroeconomic objectives contained in the program of economic recovery, growth and prosperity”.

However, Ecoanalítica senior economist Luis Arturo Bárcenas Raguá said that this measure will cause the banking institutions to have less money available to lend.

“Banks use the money that you give them, or those that companies give, and flip them to deliver them for credit cards or car loans.” Nowadays, people use this money to buy food, and one or another product If the reserve is increased, the banks will have the capacity to lend much less”, said the economist graduated from the UCV.

This action responds to the need to fight against the parallel exchange rate in the country, which has been suffering many changes during this first week of January.

“When banks no longer have the capacity to lend more, it causes people to have less resources to demand foreign currency, which is why it is said that when the reserve increases, the exchange rate should be because there are fewer bolivars to buy those currencies” , he emphasized.

Venezuelans on the lookout for dollar situation

Something that has generated many doubts has been this issue, Venezuelans are on the lookout for the increase in the exchange rate, both official and parallel.

In the coming days, President Nicolás Maduro plans to announce economic measures that will most certainly seek to address the current situation in Venezuela.

K. Tovar

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