A prominent name in Venezuelan banking, Julio Herrera Velutini is part of a family legacy of successful financial advisors. Having worked for a number of financial institutions in Venezuela, Julio M. Herrera Velutini has played a crucial role in helping the country strive for economic stability.
In recent economic developments, Venezuela raised the amount that banks must deposit into the reserve by 1 percent, bringing the new figure to 21.5 percent. The hike is designed to curb the country’s inflation rate. Despite inflation, monetary liquidity increased to a tune of 70 percent last year following heavy spending by the state-owned oil company PDVSA. The reserve hike reversed the rate of 20.5 percent set in December 2013, placing more control on the country’s currency. While the government blames the rising inflation on unscrupulous business owners, the opposition cites product shortages and private sector confrontation as the reasons for the increase.
0 Comments
Leave a Reply. |
AuthorMr. Velutini has experience with both established banks and young banks. S Archives
December 2017
Categories
All
|