Venezuela central bank - for ex controls necessary

- Central Banking staff
- 31 Jan 2003

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Domingo Maza Zavala, the director of the Central Bank of Venezuela, has said that a foreign exchange control system is "not desirable", but it is necessary. He added that he thinks measures should have been taken a lot earlier, when the strike in the oil industry began and the speculative pressure on the exchange rate mounted.

Speaking in an interview, he said such controls should be imposed for as short a time as possible but would need to continue until the oil industry was back on its feet

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