The issuing Institute keeps on meeting with the private sector of the economy

BCV informs the United Nations System about currency redenomination

As part of the inter institutional strategy that is being carried out by the Central Bank of Venezuela to make the currency redenomination process known,  two meetings took place at BCV’s headquarters with a delegation of the United Nations System and with the Board of Directors of “Empresarios por Venezuela” (Empreven).

José Felix Rivas Alvarado, director of the institute gave a presentation on monetary reconversion to David McLachlan-Karr, resident coordinator of the United Nations System in Venezuela, to Nomi Pizani, UNO’s Development director for Women (Andean countries), and to other officials of the multilateral organization.

According to McLachlan-Karr, reconversion is a positive measure since he believes “the Bolivar has too many zeros” and the new monetary scale will simplify and facilitate daily banking processes. He also pointed out that many doubts of operating officials from resident agencies in the country were clarified. He considers that in spite of the uneasiness that this kind of process causes in any nation, it will be easy for people to adapt.

On the other hand, Gastón Parra Luzardo, president of the issuing institute, met with Empreven’s delegation leaded by its president, Alejandro Uzcátegui. The meeting started with a speech given by BCV’s advisor, Luis Rivero about the most important aspects involved in the new currency scale.

Uzcátegui thinks the meeting was advantageous since the attending members of the Board of Directors will be responsible for communicating the information to their representatives in more than 122 municipalities. Another outstanding aspect was the disposition shown by Empreven and BCV to give lectures in August to the mega and micro entrepreneur sectors of the country.