You are not far from the truth. Those companies owned by government officials and their friends get to buy dollars via Cadivi at the official rate of Bs.6.3 per

You are not far from the truth. Those companies owned by government officials and their friends get to buy dollars via Cadivi at the official rate of Bs.6.3 per dollar, while everyone else is stuck buying at the black market rate of Bs.50 per dollar. You can imagine how lucrative that is. It's basically a money printer. Buy at Bs.6.30, sell at Bs.50 then repeat... But the government tries to blame the inflation and corruption on some venezuelan tourist that takes their $2500 yearly allowance and finds a way to convert that to cash.