ILO will evaluate collapse of production in Venezuela

The leader of Fedecámaras participates in the annual conference of the International Labor Organization and affirms: “We hope that they see directly the level of economic destruction that there is, the urgency of a pacific and electoral solution and that they can make recommendations that allow the recovery of the economy”.

It is worth emphasizing that the commission suspended its visit to Venezuela last February due to the political instability in the nation. Carlos Larrazabal hopes that during the visit the members of the mission will verify the persecution of businessmen and union leaders.

The authority recalled that the Central Bank of Venezuela offered a few days ago figures on the economic crisis of the country after five years of silence and admitted what the businessmen had been pointing out for a long time: GDP has fallen by 56% in the last five years.

“The crisis began in 2007 when expropriations and land takeovers began, although at that time it was not noticeable because the price of a barrel of oil was high,” he said.

With regard to the solution to the country’s crisis, the businessman summarized that “it goes through a political change that allows a democratic exit with elections and a transition towards a government people can trust and with a new separation of powers.”

L.Sáenz

Source: Banca & Negocios