If you have a friend from Venezuela, you may have wondered what is this “Cadivi” thing that he or she is always talking about. And why is it such a big deal?
“CADIVI (Commission for the Administration of Currency Exchange) is the Venezuelan government body which administers legal currency exchange in Venezuela.”
Reference: Wikipedia
In 2003, Venezuela’s government decided to create an Institution which main goal is to control currency exchange… and screw Venezuela’s economy. Every Venezuelan who wants to travel abroad for any reason, to any country, has to go through the arduous process of begging government to allow them to buy foreign currency with their own earned money. For example, students who have been granted an F-1 Visa, and need to exchange Venezuelan currency to dollars or euros, have to prepare a folder with A LOT of documents. Some of these documents are copies of their ID, passport,VISA, and plane tickets; letter of acceptance from the school, as well as schedule of activities, and curriculum; a letter explaining the reasons of your major of choice, bank references and other legal requirements.
Subsequently to submitting the folder to the bank, it’s sent to Cadivi for evaluation. And this is the start of an inefficient process which could take 2, 3, 4 months or even more, before you finally receive an email informing you of their final decision. After that moment, there are two possible scenarios.
First Scenario: CADIVI approves the request
Nowadays, getting consent by Cadivi can be compared to winning a lottery, no one really understands the process or the factors which are being taken into consideration for the decision making. Although this scenario should be the only one, it happens and the majority of Venezuelans don’t trust the process because rumors of corruption are everywhere.
Most importantly is to say that people work hard to save the money in order to apply for CADIVI exchange rate and it’s not something that the government is giving for free.
For the lucky ones, the next steps would be going to the bank, have the money in the account and wait for the exchange.
Second Scenario: CADIVI denies the request
Although you did everything exactly as they asked, Cadivi still denied your request. Massive denials are being received by students around the world, particularly in the last month.
Sadly, you only have 3 options
- Try again and introduce a “reconsideration”.
- Go to the “black market” to get the foreign currency you need.
- Go back to Venezuela.
1. Reconsideration
Going through reconsideration is a lost war. Your legal representative (mom, dad or the person in charge of your legal matters back home) has to go to the bank with a letter explaining your current situation; which they already know because it was one of the first requirements. Your legal representative probably has to submit more documents to support your request. Once again, you will need to wait 2, 3 or 4 months for their decision.
2. The Black Market
The only way besides CADIVI to have access to a foreign currency is going to the “black market” for selling/buying dollars in this case. This means buying dollars from independent people sources instead of those from the Central Bank. This is not legal but it’s the common practice.
You may be asking by now, why would people decide to go back to Venezuela if they have the option of getting dollars on the black market? Right? Here is the answer:
Math, simple math (Dollars vs. Bolívares — Venezuelan currency)
The Venezuelan Bolívar (Bs) is the currency of Venezuela (VEF). There are different exchange rates depending on what it is going to be used for. For academic purposes, for instance, the official rate is US $1.00 which is equivalent to Bs. 6.30.
In the Black Market the price for buying or exchanging bolivares into dollars is in constant change. There’s a popular website called dolartoday.com in which Venezuelans check, daily, the cost of the dollar.
According to DolarToday.com, October 22nd $1.00 is equivalent to Bs.100.52
That means that any Venezuelan needs to have 15 more times the amount of bolívares to get the same amount of dollars than going through Cadivi.
Insane, right? That explains why many students around the world are facing difficult times when being denied by Cadivi.
Finally, let’s see an example.
Master of International Business at Hult Business School
This example shows the life’s cost for an International student at Hult Business School for a one year Master program.
(*)Cadivi limits students to spend maximum $1,300.00 per month for personal expenses.
- In Venezuela, with Bs. 379,890.00 you can buy a KLR650 Kawasaki motorcycle.
- In Venezuela with Bs. 6,030,000.00 you can buy a 70m² apartment in Caracas (the capital of Venezuela).
- In Venezuela, the minimum wage is Bs. 4,251.78/month.
- In Venezuela, a professional with a Master degree and 5 years of work experience could expect to earn Bs. 25,000.00/month.
For collecting the money for the Master Program at Hult, after being denied by Cadivi:
- Venezuelan students need to have and sell 15 Kawasaki motorcycles.
- Venezuelan students need to have and sell an apartment in Caracas.
- Venezuelan students need more than 100 years to save the money with a regular job.
- Because no one lives more than 100 years, Venezuelan students need to find a really good job and save money for around 20 years.
Although Venezuela has the world’s largest known oil reserves and it’s the fifth oil exporting country around the world, crisis is everywhere, affecting the future of the ones who live there and the ones who have to go back.
3. Back to Venezuela
After seeing the cost of living for students who got rejected by Cadivi, it’s easier to understand why most of them have to give up their dreams and go back to Venezuela. The amount of bolivares that they need to finish their studies is absurd, and few families can afford it.
This is me…
Sad but true, this is the reason why Cadivi is an issue for all of us. This is why we fight for our rights of studying the career of our choice in the institution and country we like, without depending on an unreliable institution for getting access to foreign exchange. In the end, our true purpose is to become better professionals, to gain knowledge, and learn from the great experience of studying abroad,in order to one day go back to our country, and be part of a generation that is capable of making a change, and build the foundations for a better country.
Katy Da Silva
katydasilva.wordpress.com 
“few families can afford it”
When you hear government supporters, they always say “those kids has rich daddies and prefer to rob the country”. This is the argument for people on the street, for government TV channels, and even government officials in their public speeches. First, we aren’t kids, we haven’t rich parents and we aren’t rob anything, these are money that we or our parents hard-won. But none of them will listen you.
LikeLiked by 2 people
You’re right Minerva… But we will never stop speaking up for our country 🙂
LikeLike
Katy disculpa pero llegaron a aprobarte y nunca te liquidaron o te rechazaron directamente la solicitud? Espero que encuentres algunas opciones para seguir adelante…
LikeLike
Hola Gabriela, me rechazaron y actualmente está en análisis la reconsideración.
LikeLike
Great article.
LikeLiked by 1 person
Thank you very much Mauricio!
LikeLike
Very good article… Congratulations…
LikeLike
Thank you
LikeLike
Indeed, oil is an unreliable institution.
If the country is only managing to sell around 2.300.000 oil barrels per day, to provide for its over 31.000.000 inhabitants, that would leave each person with little more than $200 a month (outside production costs).
Let’s hope oil is still a trend for some years to come…at least while a renewable source of income is found.
And I also hope your situation gets fixed. Good luck.
LikeLike
Hola Katy¡¡ muy bien explicado. Excelente. Estoy en las misma que tú, cuánto tiempo se tardó para que tu recurso de reconsideración saliera en análisis???, porque el mío aun no aparece. Gracias y mucha suerte no queda de otra.
LikeLike
Hello !!! muy buen articulo! yo estoy en australia y me rechazaron cadivi. Pero decidi quedarme ! creo q me libere del estress que representa cadivi y que me negaran me dio mas fuerza para continuar luchando por mis sue;os!!! :)! No se rindaaan!!!!
LikeLiked by 2 people
Muchas gracias Maria Jose, el mejor de los éxitos en tu programa y continuaremos luchando por nuestros sueños!
LikeLiked by 1 person
Con decir que los medicos recien graduados que estamos en el extranjero haciendo los caros (para un estudiante vzlano) y largos cursos para presentar y optar a una plaza de posgrado , se nos niegue cadivi de manuntencion de estudiante es suficiente para demostrar el problema social que tenemos en Venezuela, y esto con la frase que nuestra solicitud no es prioritaria para los intereses de la nacion. La salud de la poblacion debe ser uno de los pilares principales en una sociedad. Y tristemente, nosotros somos un ejemplo junto con los miles de estudiantes de otras carreras. Gracias por publicar este articulo; el mundo debe conocer nuestros problemas y nuestra angustia diaria. 🙂 Venezuela es un gran pais, pero necesita desesperadamente un make over.
LikeLike
Amo a Venezuela por muchas cosas. Primero porque crecí allá durante mi niñéz, y segundo porque Venezuela le dio trabajo y oportunidades a mi familia. Soy colombiano, y créanme, ustedes por lo menos tienen universidades públicas, se les hace más fácil viajar por el mundo. Acá es mucho peor, acá para entrar a cualquier universidad son por lo menos 3 millones de pesos, cosa que muy pocas personas tienen, las personas de bajos recursos se les limita mucho la educación por sus altos costos. En Medellín hay algunas ayudas buenas, pero digamos que no es algo completo, es parcial, o sino te clavan créditos que durarás pagando durante 15 años de tu vida. Sin embargo entiendo completamente, si estuviera en el exterior y no puedo conseguir mi sustento básico, sería terrible. Tengo muchos amigos venezolanos en el exterior y este es siempre su discurso.
LikeLike
TENEMOS UNIVERSIDADES PUBLICAS.. MUCHAS SON BUENAS. PERO LA MAYORIA QUE A CREADO EL GOBIERNO SON UNIVERSIDADES QUE SOLO GRADUAN CANTIDAD DE PERSONAS SIN UNA PREPARACION Y EDUACION DE MUY MALA CALIDAD. Y SON JOVENES QUE AL BUSCAR EMPLEO NO ENCUENTRAN. AL IGUAL QUE EN CUALQUIER PAIS TENEMOS GENTE POBRE QUE ASI TENGAMOS UNIVERSIDADES PUBLICAS NO TIENEN LAS POSIBILIDADES DE INGRESAR, YA QUE ESO REPRESENTA TAMBIEN UN GASTO. EN LATINOAMERICA MUCHOS PAISES CREEN QUE EL GOBIERNO VENEZOLANO ES CHEVERE PORQUE TENEMOS EDUCACION PUBLICA, MISIONES, COMIDA BARATA ETC ETC ES UN POPULISMO QUE HOY EN DIA ESTAMOS PAGANDO BIEN CARO. CRISIS ECONOMICA, INSEGURIDAD, NO EXISTE INSTITUCIONALIDAD Y PARE DE CONTAR LOS PROBLEMAS QUE TENEMOS
LikeLike
Aprobado! 🙂 Gracias a Dios
LikeLike
Great article. It happened to one of my really good friend. I had no idea about what was going on in Venezuela before she explained it to me. This article helped me to better understand her situation.
Now she is back in her country and I f****** miss her. 😭
LikeLike
Thanks Sophia, hope your friend is Ok in Venezuela.
LikeLike
Well I do NOT love cadivi and I can’t put enough emphasis on that, but all of what’s said on the article is not quite true. I mean we do know why they don’t approve stuff and we do know what do we have to deliver, there is MANY people who gets their request approved, thing is you don’t see them creating forums and blog articles, actually most of people I know got everything approved. As for me, 4 times everything was approved with some minor inconvenients due to me sending the wrong paper or expecting them to understand an un-translated document in german. I do have to say that my last request was approved 3 months after the semester started (4 months after introducing it) and can say now that these people are completely heartless, they care nothing if you’ve been waiting forever and have tuition to pay, or insurance, or that you actually need to eat, all that, as I was told, was due to the ‘Ireland’ case. PS: don’t hate me, I just wanted to clarify that, yes cadivi is bad and inefficient, but is not anarchy there, there are rules they have, as stupid as they might be, and they are follow most of the times.
LikeLike
If we continue trying to find the good in the horrific thing that is the actual Venezuelan Government, this fifteen years of chaos, deaths and repression will turn into thirty, or worse, into forever. As the blogger say, they ruined the economy creating CADIVI. The people who does receive the money do not speak what they think for the same reason public workforce attend the government concentrations: to avoid being put in the black list and losing all the small and little privileges they have received for supporting this nightmare. And I say privileges, but they should be their rights, because as they love to scream out loud, oil is for all Venezuelans, but only they, the high side of the government are enjoying its profit as it should be. So stop please, trying to make this blogger look like she is only complaining out of fun, or out of despite, because she has a real problem, and if she has to come back, she will be facing even more problems, like having her life in danger every single day, not being able to buy deodorant, and if she finds it, after have to queue for more than three hours, it won’t be the one she was looking for. The same thing with paracetamol, diapers, pads, toothpaste, toilet paper, sugar, coffee, among other things that now are a privilege and not a right. My two kids, below the age of three years, fell sick with chikunguya last week, and I had to see them cry in pain because I couldn’t find acetaminofen, or paracetamol for them in time to prevent that. This government SUCKS, CADIVI SUCKS.
LikeLike
Everyone is entitled to have their opinion, so saying that hers is “not quite true” seems a little disrespectful, due to the fact that your statements are only based on your own opinions and experiences, and not solid facts. CADIVI is such a corrupted entity that no one knows as you state ” the rules they have”, and how or why they follow them, which in any other country’s government institution will probably be a requirement, because they try to be as transparent as possible. So since nobody knows what is going on, it gives room for speculations. CADIVI’s wave of denials state that there in NO money in the Central Bank, is that a problem or inconvenient on the student behalf? or due to years of mismanagement and corruption, that have ended up in such an economic crisis that limiting our students is the only viable option? I got approved once too, and it went perfect, but that was a year ago, and if you are aware of the situation Venezuela’s economy is in constant change, usually downhill. Each day the government is cutting down our possibilities: to travel, to study abroad, to buy cars/homes, to buy every day products, etc.. For me CADIVI shouldn’t exist, people have a right to do whatever they want with their money, but since at this point it does and has to exist, it should be a tool to facilitate and help make our lives easier, not fill young souls with hope and then turn them down. Lucky you, who got approved 4 times, because for me that’s just luck. PS: not meaning to be hateful either!! xo
LikeLiked by 1 person
By no means I want to find a good thing in this government and/or try to find explanations for cadivi’s inefficiency, neither do I want to diminish her opinions, specially cause they are stated as facts, like the way I stated mine and I know it’s wrong and apologize for that. My only point is that we are making no good to the country or to change, by skipping the ‘issues’ we clearly have to state before we tell stories about consequences. Yes, there is inefficiency and as I mentioned, rules are not followed always specially lately, but there are requirements that they normally look at in order to deny you the request. Is another issue when we talk about what do they deny it, because it seems they are like insurance company workers and they are told: ‘deny as much as you can’ even though is our RIGHT, but as of my experience and friends who have done the same, normally they won’t when they can’t. Also, is not nice to make me look like I am not aware of the problems of Vzla because I want to make a point here, we are debating here, hello 🙂 I know and experienced shortage, lack of medicines, etc, and that is whole other discussion and I’m pretty sure we will be on the same side on that, as we are now. I mean, there is a reason I came here and it’s because I like what the article/blog says, most of it at least. So, I quote what I read not long ago: “no todos los de oposición somos viejas del cafetal que lo leen”. Peace.
LikeLike
Wow LC, you should def take better care of your words before saying “all of what’s said on the article is not quite true.” I know for a fact that up until a few months ago many students did receive dollars/euros for their studies, but I also know most of them received the money several months late – like you did. Maybe this is not a problem if you have a family to support you, but if you are goinfg abroad to study counting 100% on CADIVI, then this represents quite an issue. In fact, I have friends that due to this situation were forced to quit their studies and return home. Furthermore, nowadays – year 2014 – the VAST majority of CADIVI applications for studies are denied. First, came the situation of students in Ireland, then it spread to any other country were Venezuelans were studying English courses, and now applications are denied even for bachelor and master programs. I have friends in Australia who owe thousands of dollars to their universities, in Boston who will most likely come back because they have not received money for the last few months, and many others who have applied to programs like Hult and IE in Madrid and have had their applications denied. Basically, anyone planning to study abroad right now must know better than to count on CADIVI. I know this is a debate, but it is my opinion that it is not nice of you to write those words only because you had the luck to be in the priviledged group of people who received CADIVI without any major issues. Truth is, as the blogger says (and frankly anyone knows), it is not fair for us to be begging for dollars when we live in the country with the biggest oil reserves in the world. Ex-Minister Giordani announced that more than 20billion dollars were gone missing due to so-called ghost companies, and WE have to beg for 40k dollars to pay for education abroad?? C´mon man, there’s no scenario in which having to present folders with a zillion documents is logical in a country like ours…
LikeLike
Let’s not forget the Maletin Companies, 23 billions dollars just dissapeared and practically produced nothing for the country. Cadivi has always been a wasp hive for corruption, and let’s not forget wither that our National Budget has been calculated for years now, arpund 40 dollars or more below the real price of oil. Cadivi has 1 rule, do anything that is necessary to mantain the mobsters that run the government.
LikeLike
u need to live on venezuela to trust, its really hard no one knows how peopple that study years in the best carrers and universitys, today live without “quality of life” economy sucks, the insegurity kill us and no one care, i mean, try to live goin to your work because you need the money for live and… u dont know if that gonna be your last day alive, u cant get good stuff because someone can stole you kill you, only because u get a nice car or a good watch, get to the market and do hours of “lines” and only for a few products, because you dont find all the things you need in one place, if u want to travel and you have the money to do it, you dont find the airline tickets, there is no cars to buy, if you think diferent they dont kill you but they tell you things, you are the bad one, you dont love your country or idk are so much stuff,the laws are only for the peopple that support the government, i get yout point but on this society, this “controls” only wants to blow up your mind.
LikeLike
President Maduro has recently promised granting 50,000 scholarships for students to study abroad but denies selling foreign currency to those who are already studying or willing to in the near future. He has said he does not want students to graduate and then work for multinationals.
LikeLiked by 1 person
bueno katy, lo que te puedo recomendar es que por nada del mundo vuelvas a venir a Venezuela como ya conocemos todos los venezolanos que tenemos conciencia, acá en este país no tenemos futuro, nuestro futuro de los venezolanos que todavía quedamos atrapados en este régimen castro comunista es el mas incierto del mundo. Espero que puedas lograr tus sueños y que algún día los venezolanos que todavía habitamos en esta patria podamos liberarnos de este régimen.
LikeLike
Hi Kathy, I really like your iniciativa on the subject. Cadivi should be explain to foreign people!!! Just a few comments: Cadivi has been absorbed by Cencoex and you did not explain that. Also, there is Sicad which is not a synonym of Cadivi. And, for the sake of clarity you should research and write about that too. Additionally, from your article seems that Cadivi only applies to individuals when in reality the currency exchange control system, whether regulated by Cadivi or Cencoex at any of the three official exchange rates currently in place, applies to companies as well. You should be aware that students can request the approval to obtain foreign currency at the official rate of Sicad 2, which is not on your table… I am not sure how many approvals for students at the official rate of Sicad 2 have been granted, probably not many, but you should take that option into consideration at the table you presented. Cheers!
LikeLike
Thanks for the suggestion Alejandra, I will try to mention more details on that on a next posts, thanks for reading and commenting! It’s a complex subject going simple for international friends (main target).
Thanks again.
LikeLiked by 1 person
I wanted to add that I really like the comparisons you presented on how much a Venezuelan has to save in order to study abroad! I think that was really clever!
LikeLike
Hola me gustaria poder leerlo en español ya que lo poco que pude entender me parecio sumamente importante, gracias.
LikeLike
Hola Osmal,
Trataré de tenerlo pronto en español. Gracias a ti por tu sugerencia 🙂
LikeLike
Mejor explicado imposible.
LikeLike
Hi Katy,
I was hoping to email you privately, but wasn’t sure how. This is well explained and has been shared a lot, but it has quite a few typos and mistakes, eg: Subsequently *to* submitting… it’s sen*t* to Cadivi for; today *October* 22nd, etc.
Please, please, please, give this post another look, as I suspect it will be shared so many more times.
Best!
LikeLike
Thanks and sorry for my mistakes, it’s the first time I write something like this in English.
LikeLike
Gracias Katy… espero poder con este articulo terminarles de explicar a mis amigos “que o quien” es “CADIVI” y porque me trae tantos dolores de cabeza! Excelente articulo!
Pd.- ellos creen que asi se llama “la beca” que recibo desde Venezuela (SI CLAAARO!!; me arrecha cuando piensan eso!)
LikeLike
Por cierto… la mejor parte es cuando dice, que somos una generacion que quiere regresar a su pais para hacer de el, algo mejor… (si me pongo sensible, sorry…) pero eso toco la fibra! Fuerza muchachos…
LikeLike
Porque a pesar de todo lo malo y todos los problemas AMAMOS nuestro país 🙂
LikeLike
Congrats
LikeLike
🙂
LikeLike
Great explanation Katy,. Cadivi is a mess!! for that reason my congratulations for your excellent description!
LikeLike
Thanks Nancy
LikeLike
I couldn’t explain it better, ive been trying to explain to all my foreign friends while I was in England but in the logical world, things such as incoherent- irrational like this one doesn’t occur, So I don’t blame them for not understanding that.
When we’re abroad we might be seen we are stingy but the truth is we try to keep every pound, penny or dolar we have cause we know how much effort each coin/ note represent. I’m looking forward to seing the day when venezuelans are going to realize it’s not a crime to improve either as a person or professional.
Congrats Katy, wish you good luck. Don’t loose the perspective.
LikeLike
Thank you very much! I wont 🙂
LikeLike
Que gran articulo! excelente! muy claro y muy cierto!… saludos!
LikeLiked by 1 person
Gracias Luis Miguel
LikeLike
Excelentisima reflexión, deberías publicarla en español también para que muchos “ciegos” que siguen apoyando la farsa de gobierno lean un poco sobre la realidad del país; me lamenta mucho ver como jóvenes profesionales deben “mendigar” su derecho a obtener divisas para estudiar donde mejor les parezca; yo personalmente tuve que emigrar a otro país porque las opciones en Venezuela eran cada día mas limitadas y esto tomando en cuenta que trabajo en la industria petrolera y tengo 9 años de experiencia, que quedara para los que trabajan en áreas menos afortunadas o los que tengan menos calificación técnica para poder emigrar a buscar un futuro mejor… Un gran saludo desde Abu Dhabi
LikeLike
This is perfect for explaining my foreign friends what cadivi is. The truth is CADIVI should not exist, and education should be the top priority in Venezuela due to that is the first thing Venezuela is sadly missing in the general population. I myself wanted to make a 3 month course in Bogota in dental aesthetics, and it only cost 3300$. The cadivi answer 2 weeks ago was, it was not in the “Country’s priorities” so they did not give me the $. The only thing i can say is that if education was considered the first thing we should be focus on, the Governement that made Cadivi would definitely not be this one.
LikeLike
Great article, It would be awesome to also explain how CADIVI works for a simple travel, because in order to get exchange currency for a trip, there are limits of the amount of money you can get depending on the country you want to visit… So even when CADIVI approves your application, if you decide to travel to Miami for a month, for example, CADIVI only approves $700 on your credit card, and $300 cash (this if you haven’t traveled anywhere else, because if you have, then your cash limit and/or credit card limit is lower) So, if you get the chance to travel, that doesn’t mean that you have a lot of money to spend, and if you do, it is almost impossible to spend it not thinking about how much money (in Bolivares) you are spending…
In the other hand, notice that we talk about credit card limit, which means that every person needs to have one, even young people, because if they dont, they can only get a maximum of $500 cash per year!!!! So, lets just not mention how hard it is for young people to get a credit card in this country…
And the other two questions that would be great to explain are Why does everyone want to leave Venezuela? and Why is it so sad to have to come back to Venezuela?
And my friends, there is soooo much more that needs to be explained!! Even for us… 😦
LikeLike
Excellent Article Katy! very well explained! I wish you all the best in your studies and don’t give up.
LikeLike
Excelente explicación… yo trabajo en la Banca Publica… Muy a mi pesar… y puedo decir que lamento en el alma cuando llegan los familiares de solicitantes de remesas de estudiantes o de pensionados/jubilados desesperados porque cadivi no da respuestas en 4 meses o rechazan la solicitud. Anteriormente si se aprobaban la mayoría de las solicitudes sin inconvenientes, pero en este último año, han sido rechazadas la mayoría, o por ejemplo tengo familiares que viven en otro pais, de tercera edad que necesitan su pensión por salud y ha tardado mas de 3 meses, sin importar la necesidad de las divisas.
Lamentablemente el pais esta pasando por la peor crisis económica (hasta el punto de importar petroleo)… y una defensa del gobierno para negar solicitud es la prioridad que le puedan dar al destino de esas divisas, también han limitado mucho las remesas de estudiantes, porque tristemente también esta el venezolano vivo que consiguio un oportunidad de negocio haciendo fraudes con este tipo de remesas haciendo pagar a todos justos por pecadores.
Trabajando en la banca y con propiedad les digo, por nada del mundo se regresen a Venezuela, es mejor que pasen trabajo afuera… asi sea lavando en un restaurant a que se vengan a trabajar en una oficina o montar un negocio con el riesgo de salir y ser robados, matados, humillados para conseguir alguna cosa basica.
LikeLike
Katy, quiero que sepas que tu articulo esta bien escrito, y tambien quiero que sepas que trabajo para procter&gamble y estoy compartiendo esta informacion con mi departamento para que al fin me entiendan, porque siempre se preguntan por que hay tantos problemas con venezuela y las ratas de cambio. Si puedo dar un feedback constructivo, me parecio que hizo falta acentuar un poco las razones por las cuales es tan benefocioso obtener dolar a cambio oficial, en terminos del numero de veces que representa una tasa en comparacion con la otra. Muchas gracias por compartir tu experiencia.
LikeLike
No pudiste haberlo explicado mejor! Siento mucho tu situacion; yo estoy viendo como hago para pedir beca y mantenerme aqui… Un abrazo
LikeLike
I sympathise with your difficult situation, but have to say, studying
in the institution you want in the country you want is a privilege, not a right.
I take it you guys are all in favour of free-floating exchange rate mechanisms then? If you oppose CADAVI then what do you suggest as an alternative to prevent capital flight?
LikeLike
Buying in the black market is not only expensive but dangerous. I had an acquaintance who had to go through this process for business reasons and the contact he got stole his bolivares and never gave him the dollars he bought, even though they made business before and everything went well. One day he just decided not to give the dollars as agreed and end of story. You can’t turn him in because what you’re doing is also illegal in the eyes of the Venezuelan law.
LikeLike
Por eso es que yo digo que cuando pago un dólar realmente estoy pagando 10 dólares según la economía venezolana . O sea, ese semestre cuesta 600 mil dólares … A lot of money!
LikeLike
Despues de 11 meses desde que introducí la primera carpeta en el banco. Me negaron la solicitud y la reconsideracion. Estoy estudiando International Business, al igual que un amigo, al que si le aprobaron. Sin sentido, no?
LikeLike
No hay reglas claras Carlos.
LikeLike
Nicely put, clearly explained Katy. Here’s to hoping things change for the better in the near future for all of us. I will share your article and hope you continue writing.
LikeLike
accurate and precise!
LikeLike
What can i say, i have 5 month and 3 days waiting for an answer. Solo estoy en análisis, mi hermano fue negado apenas metio sus documentos y como es q a mi no me han dicho nada. Anterior mente si aprobarán pero en el momento apesar que tengo todo en perfecto estado no me han querido aprobar. Solo puedo agregar que es un excelente articulo y explica muy bien nuestra situacion. Espero q el gobierno empiece aprobar no se q pasaria si los estudiantes internacionales fueran al pais con la misma fuerza que nos mantenemos aqui trabajando ilegales durmiendo 4 o 3 horas al dia para mantener un sueño, que pasaria si volvieran con esta fuerza pero con el proposito de mover las masas por un mejor futuro. Es lastimoso ver como un gobierno se hace pedazos en menos de un año.
LikeLike
Muy buen artículo, muy lamentable situación. Lo tienes en español? A mi hija le negaron la remesa del ÚLTIMO SEMESTRE. Y la reconsideración fue respondida 4 MESES DESPUES, para decir exactamente lo mismo que el correo de negación. No hay caso.
LikeLike
Oh sorry, but in the “Second Scenario” you forgot the fourth option: working your ass off in order to succeed and reach your goddamn goals! I am an international student from Venezuela going to school without CADIVI, and let me tell you, IT IS very hard, but no impossible to keep going. Something that I’ve learned since living abroad is that most of us Venezuelans expect things to be put in our hands without big effort. If you want something, work for it, and don’t let CADIVI hold you back.
LikeLiked by 1 person
Gabriela,
Although your fourth option is not related to Cadivi, it’s really similar of my thinking and what I am doing here. In the U.S without papers it’s kind of difficult to work your ass off, but I’m pretty sure most of us are trying to find a way to stay and succeed. Thanks for your comment.
LikeLike
Y adivinen quienes hacen millones de dolares al día con ese control cambiario y empeñan los recursos del pueblo venezolano con ese negocito tan maduro…:(
LikeLike
“CADIVI (the currency controls administration body) has been subsidizing the travel plans of Venezuelans since its creation more than nine years ago. With no end in sight to its “political” job, the agency keeps finding new ways to make miserable, if not impossible, the task of obtaining currency for those who really need it. One of its favourite targets: university students abroad.” Gustavo Hernandez Acevedo
LikeLiked by 1 person
Hey Katy! Estudiamos juntos Ing en la USB. Llegue aca porque vi esto en el FB de una amiga. He pasado por miles de problemas con CADIVI pero ya me libere de ellos y estoy haciendo mi vida en EEUU. Saludos!
LikeLike
Hola Arturo, me alegra que hayas logrado solucionar 🙂 Mucha suerte
LikeLike
EVERYBODY who buy cadivi dollars, also students who go abroad, are doing it at the expense of their fellow countrymen. Your studies in US and EU are payed for by people who work for 4200 bs a month. What is absurd is that anybody got cadivies in the first place. The less people who get cadivi the better.
LikeLike
I agree with you in some level. The VZ government has been reluctant enough to “devaluate” our official exchange rate (although we know the real exchange rate has been constantly devaluating). But the problem is that students, and travelers for that matter account for less than 10% (probably even much lower) than the money stolen by people who are connected to the government, who probably acquire US dollars and sell them at black market rates. At least students are doing something useful with it and getting a degree. But we know where the priorities of the government are.
LikeLiked by 1 person
Realmente una total irresponsabilidad por parte del gobierno el no aprobar los dolares de estudiantes, simplemente una forma de matar los sueños de esos dreammers que se van buscando una mejor opcion de estudio y o vida en otros paises y estan en todo sus derechos, lamentablemente esta es la realidad que esta viviendo este pais y simplemente a un dolar negro no te puedes ir lo mas triste del caso es que aveces parece que no lo hacen por la falta de los dolares porque sabemos que la aprobación de dolares para estudiantes y o viajeros no representa un % considerable y ni le llega a los talones a los niveles de corrupcion existentens en cadivi pareciera que lo hacen con mala energia con ganas de negarles las posibilidades a muchos ciudadanos (chaviztas o no) de poder vivir la oportunidad por la que tanto han luchado. Que buen articulo, excelente que estes hablando de esto aqui en Venezuela no se debe permitir que un gobierno mezquino y corrupto aparte q detruyo nuestro pais y ahora que no quite la oportunidad de buscar una mejor vida!
LikeLike
Katy da silva? PORTU!!!!! yo me fui en diciembre, me fui demaciado…!
LikeLike
Hola Katy,muy interesante tu blog,este tema de Cadivi es EL TEMA del pan nuestro de los miles de jóvenes que quieren abrirse un mejor futuro fuera de Venezuela y simplemente el gobierno venezolano se los impide.
LikeLike
Este gobierno como ya estamos acostumbrados, siempre trata de buscar la tangente en vez de atacar el problema de raiz. Obviamente anios anteriores CADIVI funcionaba con normalidad cuando habia dinero para sostener este sistema. Ahora que no hay, era mas que evidente que esto iba a suceder y que nos jodamos todos por igual. Evadir el mercado libre no solo este tipo de burbujas sino que ademas, es una burla al supuesto modelo “socialista” en el que igual los ricos pueden ser cada vez mas ricos si cambian sus ahorros en $ a bs en mercado negro. Un absurdo total como lo es nuestro pais…. Saludos
LikeLike
Exacto amigo. Lo cual genera mas inflacion en VZ (vender $ al mercado negro)
LikeLiked by 1 person
Lo que la gente no entiende, y no se explica en el articulo, es que si no hubiese control de cambio y no existiese Cadivi, muchos no hubiésemos tenido la oportunidad de salir estudiar en el exterior, puesto que no existiría el dolar a precio preferencial y todo se regiría por la tasa de cambio del momento. Tampoco dice que la mayoría que salimos a estudiar al exterior nunca regresemos a Venezuela, por la razones que sean, y el país no ve retribución alguna en al asignar divisas a precio prefrencial para estudiantes. Caso muy diferente cuando las divisas se usan para adquirir medicamentos, instrumentación o financiar algún proyecto nacional.
LikeLike
En dado caso, porque no eliminar el control cambiario? el control existente es una restricción para quienes desean y pueden irse, en ningún país normal debería de existir una institución encargada de regular y administrar a su placer las divisas, que el mismo mercado determine el precio de las divisas, y quien desee y pueda obtenerlas, que lo haga. El precio actual de las divisas de mercado negro esta determinado por la escasa oferta de divisas oficiales. Si el estudiante determina que no desea volver a su pais, esta en su libertad de pensar de esta forma, la gente no debe de sentirse obligada a regresar por unas divisas que ellos mismos pagaron, si las condiciones no están dadas para surgir y obtener una calidad de vida decente en Venezuela, la única alternativa es de buscar otro país a donde vivir.
LikeLike
El problema está en que ahora la gente llama al dólar oficial, la tasa “preferencial”. Acaso el gobierno te está haciendo un favor en venderte los dólares a ese precio? Es cierto que el paralelo esta muy por encima de ese costo pero de quién es la culpa? de la gente? del gobierno? Esto son el tipo de cosas que generan los mercados restringidos, siempre se forman mercados paralelos que benefician a algunos y perjudican a muchos. Pero recuerda que el dólar estaba a 500 bs por dólar (de los viejos, es decir 0.50 bsf por dólar) en un mercado LIBRE antes del gobierno socialista.
LikeLiked by 1 person
Gracias Arturo
LikeLike
Excellent article!! This is you and me too…congratulations you are become in a great writer is the positive thing about it 😉
LikeLike
Thank you very much 🙂
LikeLike