Venezuela’s state-run economic model wasted the world’s largest oil reserves. The country owes $100 billion to foreign creditors. Its educated, professional class has fled. Economic shock therapy, implemented in regions like the former Soviet bloc, could be its only chance. … Read More
US-built ‘great coalition’ in the region trying to find a solution to Venezuela’s crisis, says Mike Pompeo. Secretary of State Mike Pompeo (FILE PHOTO) ANKARA Secretary of State Mike Pompeo said Monday the U.S. will do whatever is necessary to … Read More
UNITED NATIONS ― In a stunningly stark report on the political and economic conditions in Venezuela, the U.N.’s Human Rights chief Michelle Bachelet outlined a troubling litany of continuing human rights abuses, extrajudicial killings, and economic privations characterizing the besieged … Read More
Venezuelan President Nicolas Maduro poses for pictures before meeting the European Union (EU)’s special adviser for Venezuela Enrique Iglesias at the Miraflores Presidential Palace in Caracas, Venezuela, on July 9, 2019. (Photo by AFP) Venezuela’s President Nicolas Maduro has slammed … Read More
Venezuela’s President Nicolas Maduro ordered the country’s leading bank, Banco de Venezuela, to accept the nation’s cryptocurrency, the Petro (PTR) at all of its branches, the country’s Finance Ministry tweeted on July 4. According to the tweet, Maduro gave “the express order to open Petro desks in … Read More
Venezuelan Communications Minister Jorge Rodriguez speaks during a press conference at the Miraflores Palace in Caracas Wednesday. Venezuela’s socialist government said Wednesday it has derailed an attempted coup, claiming the United States, Colombia and Chile colluded in a plot by … Read More
President Nicolás Maduro of Venezuela, center left, meeting with President Vladimir V. Putin of Russia, center right.CreditCreditPool photo by Maxim Shemetov MOSCOW — In his toughest moments, Venezuelan President Nicolás Maduro has turned to Russia for support. When the United … Read More
Banknotes of 10,000, 20,000 and 50,000 bolívar denominations will begin circulating on Thursday, the central bank said A man looks at Venezuelan bolívar notes hung to resemble a tree,in Caracas, Venezuela, on 6 March. Photograph: Carlos García Rawlins/Reuters Venezuela is … Read More
When about 100 Russian servicemen and military equipment were reportedly flown into Venezuela in late March, US President Donald Trump’s response was to declare that ‘Russia has to get out’. Moscow refused, saying that the troops would stay ‘as long as needed’ and that they were … Read More
Five years of ruin. This week Venezuela’s central bank unexpectedly published data (link in Spanish) on economic growth and inflation. It’s the first time in years that official figures on the economy have been released. Regular updates stopped in 2015 as president … Read More