Chile’s central bank said it had revoked a reciprocal credit line with its Venezuelan counterpart, citing what it called Venezuela’s failure to pay back its debts. In a statement, Chile’s central bank said it had notified Venezuela’s central bank and that the line would be cancelled within 10 days.3 comments
Brazilian officials plan to visit Venezuela next week to prevent Caracas from defaulting on contracts worth as much as US$5 billion after falling in arrears on a payment due to infrastructure contractors this month, newspaper Folha de Sao Paulo reported on Thursday.Add your comment!
Venezuela published the price of its oil and fuel in Chinese currency on Friday in what it called an effort to free the socialist-run country from the “tyranny of the dollar,” echoing a plan recently announced by President Nicolas Maduro.4 comments
Venezuela temporarily suspended the sale of U.S. dollars through its Dicom auction system, following an announcement last week that it was moving away from the greenback in response to U.S. sanctions. The United States in August prohibited dealings in new debt from Venezuela and state oil company PDVSA in response to the creation of a new legislative super-body that critics call the consolidation of a dictatorship.2 comments
Venezuela's monthly inflation rate jumped to 33.8% in August, with food price rises reaching hyperinflationary levels above 50%, the opposition-controlled National Assembly said on Thursday.
Spain is pushing for the European Union to adopt restrictive measures against members of the Venezuelan government as a way of encouraging a return to constitutional order in the crisis-hit country, the Spanish foreign ministry said on Tuesday.
Venezuela's President Nicolás Maduro has said that a preliminary analysis shows that new financial sanctions imposed by the United States will lead to a halt in oil exports to the US. President Trump's order bans trade in Venezuelan debt and blocks its state oil firm from selling bonds in the US.
Venezuela's recently ousted chief prosecutor accused President Nicolas Maduro and several allies on Wednesday of participating in acts of corruption, saying she would turn over proof that would help other countries prosecute. Venezuela's government quickly fired back, accusing Luisa Ortega Diaz of grave moral and ethical infractions.
The British Minister for Europe and the Americas, Sir Alan Duncan, strongly condemned the decision from the Venezuela Constituent Assembly announcing it will take over the established National Assembly's powers.
Venezuela’s high court issued an arrest order for the ousted chief prosecutor’s husband on Thursday after authorities accused him of running a US$6 million extortion ring, a ruling promptly denounced by government critics as a move aimed at silencing opponents of President Nicolas Maduro.