March 27, 2006
Venezuela: Money market could increase 30%

(Agencia Bolivariana de Noticias) - "The Venezuelan National Securities Commission (CNV) forecasts that the money market in Venezuela will repeat the same economic tendency as in 2004-2005

The Venezuelan National Securities Commission (CNV) forecasts that the money market in Venezuela will repeat the same economic tendency as in 2004- 2005. In than period, there was a 30% growth in all transactions.

According to Fernando De Candia, CNV's President, the forecast for this year is a repetition of those figures in the macroeconomic indicators.

Mr. De Candia explained that Venezuela's competitive advantage after the exchange control is evident. 'We have healthy reserves, a little bit over. There are plenty of opportunities for capital input.'

De Candia said that the CNV currently has businesspeople requests for a number of sectors such as construction, auto manufacturing, pharmaceutical, tourism and agro industrial, among others. The goal is for businesspeople and intermediaries to access this market.

The CNV has invited 51 companies with high potential to participate.

Regarding education, Mr. De Candia said he had invited 28 public and private universities in Venezuela to sign securities markets education agreements so that more people can have access to this market".