Latin American Economy & Business - June 2017 (ISSN 1741-7430)

After a two-month delay, the Banco Central de Venezuela (BCV, central bank) has finally implemented changes to its complex exchange-rate system that essentially encompass a maxi-devaluation. The changes were initially unveiled in March and were supposed to have been launched immediately, but with massive anti-government protests spreading across the country, the government’s focus has been elsewhere.