The Alcaidia (Municipal Government) of Caracas issued vouchers denominated in “caribes”. Each caribe is equal to 1,000 bolívares and notes come in denominations of 5; 10; 20; 50 and 100.
These may be used to purchase foodstuffs at the subsidized shops operated by the Alcaidía. The idea is to facilitate the access to cash, as it is now difficult to obtain it. Customers who wish to withdraw cash from their account cannot easily do it, because banks have little or no physical banknotes.
The public will be able to get “caribes” on line against their bank accounts.
Sources: DiarioSur.es ElMundo.com
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©2008 Monetary Research Institute.
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