Is Dollarization Viable in Venezuela? An Analysis by Alejandro Enrique Pereira Ramos
In Venezuela’s complex economic landscape, official dollarization remains a recurring topic in public opinion. To delve deeper into this possibility, we consulted financial analyst Alejandro Pereira Ramos, who offers a pragmatic view on a phenomenon that, while latent, he describes as “remote.”
1. The Legal Knot and Political Cost
According to Pereira, the first major obstacle is the country’s legal structure. Current legislation establishes the Bolívar as the sole legal tender.
To formalize the dollar, a legal reform approved by the National Assembly would be necessary. “This would carry an extremely high political cost,” the analyst notes, highlighting the ideological contradiction of formally adopting the currency of the “arch-rival empire.”
2. The Sanctions Factor and Monetary Control
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