Will the Bolivar be strong again? 😳
According to Bitácora Económica, OFAC is finalizing a license that would allow the Central Bank of Venezuela to distribute around 330 million dollars from oil revenues to five private banks: Bancamiga, Mercantil, BNC, Banesco, and Provincial. The funds, currently held at the National Bank of Qatar with JP Morgan as correspondent, will be allocated to health and infrastructure projects. U.S. authorization is essential for JP Morgan to process the transfer of these resources to Venezuelan entities.