Venezuela economic crisis: Elías Matta blames Central Bank for inflation

Former National Assembly deputy Elías Matta Wehbe has criticized the Central Bank of Venezuela (BCV) for its monetary policies, which he claims are causing a rapid loss of purchasing power for citizens. Matta stated that the government is printing money to finance public spending, leading to a situation where wages lose significant value within a single week.

According to data from the BCV, monthly inflation reached 8.4% in September, contributing to a cumulative inflation rate of 225.3% between January and September. Matta noted that Venezuela's monthly inflation rate exceeded the annual inflation rates of several Latin American countries, including Brazil, Mexico, Colombia, Chile, and Peru, which all maintain annual rates below 7%.

Matta urged that the economic crisis be addressed immediately in ongoing negotiations, arguing that the issue cannot wait for upcoming elections. He emphasized that families cannot afford to wait for an electoral process while their salaries lose between 8% and 20% of their value every month.