Nicolás Maduro: Informal dollarization is “an escape valve”

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(CNN Spanish) - The questioned president of Venezuela, Nicolás Maduro, said that informal dollarization is an “escape valve” for a sector of the Venezuelan economy.

This Sunday, in an interview with the private television station Televén, he commented that “that process that they call dollarization can be used for the recovery and deployment of the country's productive forces and the functioning of the economy. It is an escape valve, thank God it exists. ”

"Maybe what I am going to say can be a sin for dogmas owners, but I am going to tell you something, I do not see it badly, I do not see it badly, I declare myself a sinner," he added before affirming that the The phenomenon arose from the “necessary self-regulation” of the Venezuelan economy.

(Photo by Matias Delacroix / Getty Images)

The strong bolivar is the official currency along with the petro, which is the country's cryptocurrency, and both are the official currencies currently used by residents of Venezuela.

More than 15 years ago, control by the Venezuelan government regarding foreign currency access governs. Venezuelans resort to informal methods to acquire dollars and be able to use this currency in Venezuelan territory.

Dollars