Andean Group - March 2015 (ISSN 1741-4466)

Simadi a non starter: The new, ostensibly free floating exchange rate system, Sistema Marginal de Divisas (Simadi) has failed to do what it was meant to do and in fact may have worsened inflation, according to local economists. While the Simadi was launched at BF52/US$, it has now fallen to BF190/US$. The parallel rate, which the government thought to eradicate with the Simadi, was trading at an unprecedented BF248/US$ on 26 March, according to websites that publish the (illegal) rate.

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