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Returning bank loans in Venezuela? “A mirage” in a country still in crisis

“When Francisco López heard that credit card payments started to increase” in Venezuela, “He didn’t hesitate to log into his online banking account to check if it was true. […] “Maybe things will look up,” he thought, hoping to get back to shopping like before. But the illusion was short-lived.”

At present, his credit is still 1 bolivar, that is, about 0.1 dollars, the medium says Efecto Cocuyo. While his cousin’s, which has been increased, barely reaches 40 dollars, enough to buy a pair of shoes.

In a country plunged into a severe economic crisis for almost a decade, which saw its GDP melt by 80%, bank loans “ceased to exist” since a long time. And while Venezuela is currently experiencing a mild economic recovery, fueled by de facto dollarization and easing of government controls on



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