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Venezuela’s Caracas Stock Market Faces Capital Shortage: President Warns of Economic Challenges Ahead

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Venezuela’s Caracas Stock Market Faces Capital Shortage: President Warns of Economic Challenges Ahead

Caracas Stock Exchange President Warns Venezuela Needs $8 Billion in Capital by 2025

Horacio Velutini, a Venezuelan businessman and president of the Caracas Stock Exchange (BVC), has issued a warning that the public and private sector in Venezuela will require $8 billion in capital between 2024 and 2025. However, he noted that the country’s banks only have $1,400 available.

Velutini emphasized that even if the legal reserve requirement was lowered, the $3 billion from the banks would still fall short of meeting Venezuela’s capital needs. He expressed optimism about the country’s economic prospects, stating that the chances of improvement have increased significantly.

The businessman highlighted the importance of obtaining capital for growth, with every entrepreneur in Venezuela currently seeking funding. Velutini also mentioned that the Caracas Stock Exchange has approved an increase in share capital, signaling plans for expansion.

In conclusion, Velutini stressed the need for consensus on economic issues, separate from political debates, in order to address Venezuela’s capital requirements effectively.

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