In Venezuela: Dying the Central Bank of Venezuela

The BCV (Central Bank of Venezuela) is falling apart as it has been doing the rest of the country over 45% of its employees have resigned or have applied for the Retirement.

All this is due to the high cost of living, which also affects the entity that controls the Banking systems of Venezuela.

Workers claim that as a result of personnel management policy, hyperinflation and the Chavista management model of the Issuing Institute, there has been an outflow of qualified personnel from the institution, which is irreparable.

The three central vice presidencies of the BCV, namely the Studies, National Operations and International Operations, show a significant decline in qualified personnel that makes it difficult to carry out studies and opinions on complex economic policy issues or monetary management or reserves management. , as was usual in the BCV. Something similar happens in the Statistics Management, where fundamental areas such as price statistics and macroeconomic accounts work literally without trained personnel.

The case of the Vice Presidency of Studies is alarming. Its two managements, that of Macroeconomic Programming and the Office of Economic Research, work with less than half of the required personnel and the head offices do not have the required competencies for these positions.

When in the past the BCV was the best institution to work after PDVSA. As an example, it can be mentioned that an economist with ten years of experience and postgraduate studies earns around US $ 5 at the Zoom rate, to which remittances are valued.

The policy has seized the BCV, turning the Institute into a kind of fraction of the PSUV.

If this is happening with the entity in charge of managing a financial economy of Venezuela, the Venezuelan pockets are in serious trouble.

@chanchuy