David Osio – Venezuelan Banking CEO Noted For Comments on Venezuelan Economy
David Osio recently provided his insights to a Venezuelan news source regarding the Chinese opinion on the Venezuelan economy. He noted that the Chinese are very dissatisfied with the economic state of Venezuela. The Chinese investors want to see greater stability within the country before they invest more money to reduce Venezuela’s debt load. David Osio sees the potential for default of the Venezuelan government as a clear reality of the current economic situation, and noted that international markets have punished Venezuela for the lack of clear and stable economics. David also noted in his comments that Venezuela has a lot of economic potential in the long term, and it simply requires a great deal of investment for a expedient recovery. The best news for Venezuela is that he doesn’t see any potential for there to be a national debt default.
David Osio has also made suggestions to stabilize the Venezuelan Economy. He suggested that the exchange rate should be modified and that the amount of gasoline exports should be increased. He also suggested that foreign investors should be guaranteed to have a solid investment within the country. He does see the potential for more stability to occur following national elections. Stability will come from higher oil prices and more lending from the Chinese, as well as economic stability measures from the government. China is a major partner of the Venezuelan economy, so the Venezuelan economic stability depends on the ability of the Chinese to lend money to the country.
A colleague of his also indicated that the Venezuelan government does not seem to be interested in making any economic reforms. However, most in the government also want to pay for the debt to ensure that Venezuela remains a credit worthy country. The government owes nearly $5 billion in debt payments.
Davos Financial Group provides wealth planning and advisory services on behalf of their clients. The services they offer are specifically tailored to meet individual needs, and has been in business for over 22 years. David Osio has expanded the business to New York, Geneva, Lisbon, Panama City, and Miami.
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