Venezuela's central bank signaled a cautiously optimistic outlook for the country's currency and price dynamics during a meeting on Monday with representatives from public and private banks. Interim chief Luis Alberto Pérez outlined expectations that the exchange rate will enter a more stable phase and that inflation will moderate from its recent pace.
Pérez reported that the economy recorded growth in the first quarter, a continuation of a streak that now spans 20 consecutive quarters of expansion. He framed that performance as part of the backdrop for the central bank's current policy orientation.
On the foreign-exchange front, Pérez said the divergence between the official exchange rate and the parallel market has shrunk to roughly 29 percent. He attributed that narrowing gap to more active interventions by the central bank, describing the difference as now substantially reduced compared with prior levels.
The central bank is also designing measures intended to facilitate access to foreign exchange through official channels, Pérez said. While he did not provide detailed specifics of those measures at the meeting, he indicated the bank is actively working on policy steps to ease official access to foreign currency.
In addition to domestic policy actions, Pérez told attendees that Venezuela is restoring relations with the International Monetary Fund and other multilateral organizations. He presented that diplomatic and institutional engagement as part of the central bank's broader approach to stabilizing exchange conditions and addressing inflation.
Officials convened with representatives from both the public and private banking sectors to discuss these developments and the central bank's plans. The information shared by Pérez focused on three principal areas: the expectation of a period of exchange-rate stability, signs that inflationary pressures are easing, and measures aimed at improving official foreign-exchange availability.
The statements summarized by Pérez highlight ongoing policy work at the central bank and a degree of coordination with banking stakeholders, alongside renewed contact with multilateral institutions. The details of the planned measures to expand official foreign-exchange access and the timetable for their implementation were not disclosed at the meeting.