Venezuela update

Juerg Degenmann provides his latest insight into the worsening trading and social position in Venezuela 

The overall situation in Venezuela continues to be the same as concerns the never-ending shortage of staple foods. This situation is repeated and multiplies in everything that affects our day-to-day lives as individuals, merchants in general, businessmen and entrepreneurs.

The Airlines available for export continue to be VENSECAR and we cover all shipments to Latin America and the U.S.A. with them as they offer several flights per week. Limitations as concerns the size of the liftvans continue. With IBERIA we cover Europe with an approximate transit time of five-six days.

There is a considerable shortage of containers for deep sea cargo because of the decrease in imports. This lack of containers affects reservations for confirmed exports.

Recently our President told us that new bills and coins will begin to circulate and he gave us three days to deposit in our personal accounts all the 100 Bolivars bills we have as these will no longer be accepted. This is the most circulated bill. There are never-ending lines of people at all banks. As of Monday the 19th deposits can only be made at the Venezuela Central Bank that has only two offices in Caracas. New bills and coins of higher denomination will be put into circulation. The general feeling is that he could have waited until January to make this announcement, but we are used to his decisions and decrees that make no sense. Nobody says anything and everything is accepted.

At this time the Venezuela-Colombia border has been closed once again.

We regret finishing this year reporting this terrible situation, moreover we appreciate your continue support and the relationship over all these years.

Wish you all a peaceful and Merry Christmas, all the best for the 2017.

Warm regards,

Juerg Degenmann,
General Manager,
Mudanzas Internacionales Global, in Caracas,