1. It would have been inconceivable for exchange control to be tossed around and knocked around in Cabinet. 2. The government is going to impose stricter exchange controls. 3. The abolition of exchange controls has made it harder to track flows of cash in and out of the country. 4. At the same time, exchange controls continued to prevent foreign issuers from raising bond finance in London and the eurosterling market was still in its infancy. 5. For example, abolition of exchange controls has reduced the usefulness of direct restrictions on bond issuance such as issue queues and other limits. 6. Although most Western economists deplore exchange controls as authoritarian and prone to abuse, some believe that they may be the lesser of evils right now. 7. American Airlines Inc. said it reduced service to Venezuela and filed claims against the government over its inability to convert bolivar earnings into dollars thanks to government exchange controls. 8. Because exchange controls have limited its access to dollars, the company has missed interest payments. 9. Both the finance minister and central bank governor said the government will phase in the lifting of exchange controls. |