The national president of Copei, Roberto Enríquez, pointed out that the Central Bank of Venezuela should be closed (BCV) because in his opinion it is a machine for inflation, poverty and salary destruction.
Enríquez, who participated in an assembly in the La Pastora parish in Caracas, said that in the BCV it was installed as a “perverse and unsupported ticket printing mechanism that ends up destroying the purchasing power of the Venezuelan.”
“We have to remove partisan political interference from the country’s monetary policy; for that I put forward the proposal of a currency board, which has been successful in 89 countries, by the economist Steve Hanke”, he said.
Steve Hanke, a professor at Johns Hopkins University and creator of the currency board model, welcomed Enríquez’s position.
“Roberto Enríquez proposed a way to end Venezuela’s economic death spiral, to install a currency board. Mr. Enríquez is right, a currency board like the one he proposed in 1995, when he was an adviser to President Caldera, would save the bolivar and the Venezuelan economy,” Hanke noted.
Enríquez indicated that he is touring the country and that in the sectors he visits he explains the nature of the proposal.
Devaluation
The political leader referred to the devaluation of the Bolivar during the last week of August.
“Venezuela once once more had a black Wednesday that has happened repeatedly and is precisely the product of the irresponsibility of the BCV,” he said.
He said that he will hold several seminars, both in Venezuela and abroad, to fine-tune the mechanism of the currency boards as an instrument for the economic reactivation of the country.
He indicated that to defeat inflation, fiscal discipline is required to reactivate the economy.
“Closing the BCV is giving dignity to Venezuelans,” he insisted.
And he emphasized that this requires a political change in principle. “It will be possible with a victory once morest Nicolás Maduro in a presidential election. The Venezuelans who want change are in the majority and we must work to unite this great popular force”, he expressed.
