“We continue adapting our business to the dynamics of the markets in which we are present,” said the company that coordinates McDonald’s food chain in Latin America to explain the closure of some branches in the country.
The fast food chain McDonald’s American closed “a reduced number” of its restaurants in Venezuela as part of the policy of adaptation to the markets in which it is present, the company reported Arcos Dorados, which operates the brand in Latin America and the Caribbean.
“We continue adapting our business to the dynamics of the markets in which we are present. According to this dynamic and adaptation, we have closed a small number of restaurants recently, “Arcos Dorados said in a statement.
The information comes at a time when, through social networks, it is pointed out that in Venezuela, a country plunged into a serious economic crisis, seven chain restaurants have closed, some in Caracas and others in the interior of the country.
However, the company states that they are not closing franchises and that they operate “more than 120 restaurants in the national territory.”
“We remain committed to the development of the country,” the company said in the statement.
Venezuela, the country with the largest proven oil reserves in the world, is going through a serious economic crisis translated into hyperinflation, shortage of medicines, food and failures in public services.
The Venezuelan government has implemented since August 20 a series of measures framed in the so-called “economic recovery plan”, many of them rejected by the opposition and economists as it will aggravate the crisis.
Among these measures is a salary increase of up to 35 times, a price control of 25 food products, the devaluation of the currency and the monetary reconversion that took away five zeros from the bolivar, now with the surname of “sovereign”.
According to estimates of the International Monetary Fund (IMF), inflation in Venezuela could close this year at 1 million percent.