Venezuela Trade Group Proposes Formal Bimonetary System to Legalize Dollar Use

Consecomercio, Venezuela's commerce federation, proposes formalizing a bimonetary system to allow foreign currencies to move beyond cash and into bank accounts for savings and financing. This marks a policy push to legalize de facto dollarization, which could reshape monetary conditions and investment flows. The proposal's adoption remains uncertain, but it signals growing private-sector pressure for financial reform.