As a result of the debt that Marcos Pérez Jiménez had left, an economic adjustment program was necessary in Venezuela. The Economic Recovery Plan of 1960 was formulated by Tomás Enrique Carrillo Batalla. The construction industry was revitalized through the "rediscount" of the Central Bank of Venezuela. The Economic Recovery Plan fulfilled its objectives and in 1964, Venezuela was able to return to an anchored exchange rate, with free purchase and sale of foreign currency. This system lasted until the Venezuelan Black Friday of 1983, although the model was already running out at the end of the seventies. The consolidation of the democratic system and the dissipation of fears of political radicalization of the country contributed to normalize the demand for foreign currency, stabilizing the parallel exchange rate.