Venezuelan public and private sector banks will have to restructure the debts of small- and medium-sized enterprises (SMEs) that have been severely affected by the country's economic problems, business association Fedeindustria chairman Miguel Perez told local daily El Nacional.
A recent Fedeindustria study found that 25,000 SMEs could close their doors this year, leading to job losses of 200,000.
Fedeindustria proposes that SMEs be allowed to temporarily suspend their debt payments to state banks and that principal payments on loans from private sector banks also be frozen, along with interest on late payments subsequent to 2 December 2002.
Venezuela is starting to recover from a nationwide strike that began on 2 December last year and ran into late January.
Adding to industry's woes was a government mandated freeze on foreign exchange transactions that came into affect on 5 February.
