CADIVI Meaning and
Definition
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CADIVI is an acronym for Comisión de Administración de Divisas, which translates to the Commission for the Administration of Foreign Exchange in English. CADIVI is a governmental agency in Venezuela that was responsible for controlling and administering the country's foreign currency exchange system.
The primary role of CADIVI was to regulate the acquisition and allocation of foreign currency in Venezuela. It implemented strict controls on the distribution of foreign currency, including both physical cash and non-cash methods such as wire transfers and credit card transactions. CADIVI was established in 2003 as part of the Venezuelan government's efforts to manage the country's foreign currency reserves and prevent capital flight.
Under CADIVI's regulations, individuals, businesses, and other organizations were required to request authorization from the commission in order to access foreign currency for different purposes such as importing goods, travel, or remitting funds abroad. The commission's main objective was to ensure the efficient use of foreign currency resources and prevent the depletion of Venezuela's international reserves.
However, CADIVI faced widespread criticism for its strict controls and bureaucratic processes, which led to a high level of corruption, currency shortages, and black market currency trading in Venezuela. The agency was eventually replaced by the Foreign Currency Administration Board (CENCOEX) in 2010, which continued to implement similar foreign exchange control measures.
Common Misspellings for CADIVI
- CeDIVI
- CcDIVI
- CADyVI
- CADaVI
- CADmVI
- CADhVI
- CADIrI
- CADItI
- CADIwI
- CADIVy
- CADIVa
- CADIVm
- CADIVh
- c adivi
- ca divi
- cad ivi
- cadi vi
- cadiv i
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