ALI RODRIGUEZ...WHO UNDERSTANDS?....Opinion of the Editor.

First of all i want to append summary issued by the Dept. of the Press of the Ministry of Economy and Finance on statements issued yesterday by the holder of the portfolio Ali Rodriguez Araque, allowing me to comment later.
_____________________________________________________________________________ Government hopes resize financial sector to boost domestic production between the strategies evaluated by the national Executive to overcome the distortions in the Venezuelan economy is the re of the financial sector, which until now has been focused more speculative activities. So noted this Thursday the minister of P. P. for Economy and Finance, Ali Rodriguez Araque, during a conference offered in the center of Latin American Studies Romulo Gallegos (Celarg), within the framework of the days of thought and critical reflection of the foundations of the Socialist Party United Venezuela (PSUV).

The high official insisted that the banking, both public and private, must be geared more toward the financial intermediation and less toward the speculative activities, because its rationale is to ensure the stimulation of domestic production . Rodriguez Araque made a point to remember that precisely the global crisis of capitalism reflects the fact that increasingly the banking american was directed toward the financial speculation.

The Minister added that next to a reorientation of bank credit the Government seeks greater stability in the macroeconomic variables of the nation, a task where it plays an important role the diversification of export products and the control of inflation. In that sense, He added that the development of the agricultural sector and the satisfaction of the housing needs of the population are also part of the strategies for the economic momentum and the expansion of the domestic market.

By playing the theme of inflation, assured that it can close to end of the year in 26%, below the 31% reached in December 2008. For this are being attacked the main components that affect the indicator inflation: food and non-alcoholic beverages, hotels and transport, he said. The Ministry of Economy and Finance and the Central Bank of Venezuela, next to other institutions, we are working to achieve this estimate , said. __________________________________________________________________________________ OPINION OF THE EDITOR.

The Banks are first and foremost commercial enterprises, designed to generate useful to their partners and shareholders. However, the Banking has a very strong impact on the economy of any country, to be the ente channeling the liquidity that might be surplus to depositors toward those individuals and companies that, above all, generate a productive activity, which require financing for their operations, or to consumers that require a spending, and are able to assume a financial cost to that end, this is one of the legs of the table on which it holds any economy in the world, and the oil lubricates the wheels of the same, apart from being a basic concept and elementary Economy.

However, the Minister Rodriguez argues that "resize the financial sector" and guidance to credit; please Minister, if the economic strategy that you leads is geared to speculation on papers to generate more debt, and with that cover running costs of public administration, to complete, with yields high to the market. Then, how to where i was going to lead the banking their resources, in many cases until obliged by law?, What to whom he did issue some bonds agricultural, so-called to boost the sowing at national level, and decrease of the portfolio agropecuaria compulsory?, What state institution determined that the Petrobonos does not fall in the balance sheets of financial institutions such as dollar positions? And stop count.

You know exonerate Mr. Minister, but was put too much "slight" to the crafty bankers( pay attention, this is not the defending) and not the went to "fail". Mr. Minister the activities of the banking be reoriented when his Ministry, the Central Bank and the Ministry of Planning and Development (still exists? Where is Giordani?), stop thinking as Treasurers of Bank of America and more as responsible for the economic organization of a country, where it is really impetus to the establishment of the industry in which we competitive and can generate jobs, where do conventions with businessmen from other countries and not with governments traders, where it operates and to protect our main industry, each day with the worst indices of productivity, among many other things, and secure the financial system will accompany naturally in that direction, and not by decree