One month after Nicolás Maduro’s removal from power, the Portuguese community is hopeful that Venezuela will remain at peace, but is “very concerned” about the continued rise in prices and the devaluation of the bolivar.
“We hope that things will remain peaceful, but the prices of products and the exchange value of the dollar continue to rise, which represents a continuous devaluation of the bolivar, the Venezuelan currency”, explained a Portuguese trader to Lusa.
Martinho Alves explained that in Venezuela the prices of products and services are based on the US dollar, but are paid in bolivars, at the exchange rate of the day.
“Although the official value is established by the Central Bank of Venezuela, many prices, at the supplier level, are calculated according to the value of the parallel dollar or USDT cryptocurrency [Tether] which after the North American attack was quoted at 900 bolivars and this was quickly reflected in the price of food, medicine, goods and services”, he said.
However, he explained that the exchange rate has already dropped, being around 500 bolivars, but, in contrast, the official exchange rate continues to rise, going from 310 in the first days of January to 370.
“The purchasing power of Venezuelans continues to deteriorate and it continues to be difficult to access foreign currency locally, which makes imports difficult”, he stressed.
Driver Juan Goncalves explained to Lusa that, “in Venezuela, prices rise every January, but this year it was something incomprehensible, making people’s already difficult lives difficult.”
As an example, he mentioned that chicken breasts, apples and pears were priced at around 10 euros, veal was priced at 18 euros per kilogram and a 250-gram package of butter was priced at between 10 and 12 dollars (between 8.47 and 10.16 euros).
The prices of mandatory consumption products, such as pasta, rice, vegetables, and coffee, he said, rose between 15 and 25%.
“But here there is a phenomenon that is not new, but that continues to occur: prices rise, including in foreign currency, inflation includes that of foreign currency and to this is added the exchange rate difference, or devaluation of the bolivar”, he said.
Upset with the situation, retired Ludovina Freitas explained to Lusa that a medicine she consumes daily for diabetic neuropathy rose from almost four thousand bolivars (9.15 euros) in November to more than 12,400 (28.38 euros) in January.
“It is increasingly difficult to have a quality of life and take care of your health, especially for those in old age,” he said.
On January 3, the United States launched an attack against Venezuela to capture the Venezuelan leader, Nicolás Maduro, and his wife, and announced that they will govern the country until a transition of power is completed.
Maduro’s executive vice president, Delcy Rodriguez, assumed the country’s interim presidency with the support of the Armed Forces.
Maduro and his wife gave brief statements in a New York court to respond to charges of drug trafficking, corruption and money laundering and both pleaded not guilty. The next hearing is scheduled for March 17.
Venezuela lives in one of the largest communities of the Portuguese diaspora, which association leaders estimate, including those of Portuguese descent, to be around 1.2 million people.
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