But it also will be hurt in the bank of BBVA, Mapfree insurance company and the oil company Repsol, among other figures support the suspicion that foreign companies are government policy. Foreign direct investment (FDI) in 1998 was about 6,200 million dollars in 2008, stood at 1,700, a 72% lower. And while this is a general trend in the region, since the results of a study of the United Nations Conference on Trade and Development (UNCTAD) show a fall of 41% of FDI in Latin America in 2009, Monteiro noted that in this sense “Venezuela is isolated from other countries. When speaking of investments, the country is in another category, no one in the same portfolio in Brazil, Mexico and Venezuela. ” Of course such a measure will have an impact on the population, poverty and Prof. Rafael Pampillon it says that the devaluation will have strong redistributive effects in the country, “hurting those who have debts in dollars, real , euros, etc. they will have to convert Bs now than before the devaluation to pay such debts and creditors benefiting dollars now receive more pesos.” He added that perhaps they are small and medium enterprises in the state who will be more engaged with dollar debts and revenue streams (sales) related primarily to the domestic market (Bs).
For families who maintain currency debt foreign, he adds, “the devaluation will increase the debt / income causing rearrangements in the structure of household expenses with a negative effect on consumption. Overall, the devaluation for families and small businesses can generate a poverty effect “And while a devaluation would mean an improvement in competitiveness in the international market for goods produced in the country to Obuchi” numerous regulations, attacks on property, attacks on the private sector and other risks, discourage investment and domestic production. ” One point which coincides Pampillon, which states that the ills of the economy not only from the bolivar “which, without doubt, is overrated but above all, for not having undertaken tax reform in depth and have not fought the inefficiency and corruption in the political class. ” In particular, Venezuela, in its current stage is becoming increasingly obvious political uncertainty, the risk to investment, economy unstable, protests, disgruntled, insecurity, poverty, issues that can not and should ignore President Chavez, must give way to plans, economic programs more secure, credible, well-assessing its scope, impact, more to a year in which their aspirations for stay in power be seen, with actions that ensure economic security, participation, positive actions that benefit all citizens without discrimination, and within a climate of democracy that has happened to the union and not division. We hope that this will take into account what the president because you have all the tools of power to do it if it proposes.