Foreign travellers visiting the South American country will be charged in US dollars for tourism services, including in travel agencies and accommodation in 4 star and state approved hotels. They will also be able to buy national currency directly from tourism providers.
By Ryan Mallett-Outtrim - Counterpunch, May 25th 2016
Ryan Mallett-Outtrim gives a run-down of the root causes of Venezuela's economic problems, arguing that the government's maintenance of exchange controls, not socialism, has sunk the country into a financial black hole.
In this interview, investigator and former Mining and Basic Industries Minister, Victor Alvarez, argues that the government must implement an economic stabilisation plan with social welfare before it is too late.
Acclaimed economist Mark Weisbrot outlines a string of measures to resolve Venezuela's economic crisis, including instituting direct subsidies to poor and working class families, eliminating exchange and price controls, and diversifying the economy.
The economic initiatives include changes to the country’s multi-tiered exchange rate, a rise in the domestic price of gasoline, the implementation of a new tax system, and placing more power over food distribution in the hands of organised communities.