Central Banking

Venezuelan, Colombian cbs agree on payment system

Following meetings between central bank officials from Venezuela and Colombia, a system has been agreed which will control and guarantee payments for Colombian exports to Venezuela.

Colombian officials have expressed concerns that the sharp fall in the value of the bolivar may lead to Venezuelan merchants not being able to pay for goods they imported from Colombia, but the new system (Aladi) has been set up to ease these concerns.

Businessmen will now be required to register exports to Venezue

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