Friday, August 7, 2015


One Venezuelan Bolivar is now worth approximately one-seventh of one US Cent, or $  0.001429 The chances that the Venezuelan economy will descend into total chaos increase every time the unofficial Bolivar-US Dollar exchange rate increases. One look at today's figure should convince compliance officers that Country Risk for Venezuela has now reached the point of no return. It is no longer prudent for bank clients, or any financial institution located outside Venezuela, to conduct business there, extend credit, or make any material improvements there, sad to say. The money laundering, the narcotics trafficking, rampant corruption and ruined planned economy shows you why every other Venezuelan is trying to move to Panama.

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