Saturday, January 16th 2016 - 10:58 UTC

Venezuela in “economic emergency”: Q3 inflation 141.5% and GDP down 7.1%

The decree, read by new economy vice president Luis Salas and to be debated by parliament, did not mention any major policy changes such as a devaluation

Venezuelan President Nicolas Maduro's government has decreed a 60-day “economic emergency” for the recession-hit OPEC nation reeling from low oil prices and a sputtering state-led economic model. The government on Friday also published the first macroeconomic data for more than a year, showing GDP dropped in the third quarter while inflation surged.

Wednesday, January 13th 2016 - 07:46 UTC

Venezuela's First Lady claims her two 'narco-nephews' were kidnapped by DEA

Cilia Flores, who serves in congress, told Venezuelan weekly Tal Cual that the U.S. was seeking revenge and trying to force the socialists from power in Venezuela.

Venezuela's first lady on Tuesday broke her silence on the arrest of her two nephews on drug trafficking charges, saying they were kidnapped by the U.S. Drug Enforcement Administration.Cilia Flores, who serves in congress, told Venezuelan weekly Tal Cual that the U.S. was seeking revenge and trying to force the socialists from power in Venezuela.

Wednesday, January 13th 2016 - 05:34 UTC

Venezuela's 'super majority' power struggle paralyzes government

At stake in the power struggle between the legislature and judiciary is the opposition's “super-majority,” which can be used to force Maduro from office

Venezuela sank deeper into a messy political crisis Tuesday as the opposition-controlled National Assembly suspended its session after the Supreme Court declared it null and void. Speaking before a nearly empty chamber, speaker Henry Ramos Allup, a fierce opponent of President Nicolas Maduro, declared the National Assembly lacked a quorum and would reconvene Wednesday morning.

Tuesday, January 12th 2016 - 07:36 UTC

Judicial and Legislative branches clash in Venezuela threatening institutional stability

The Supreme Court dominated by chavistas declared the National Assembly's leadership in contempt of court and voided the legislature's decisions

Venezuela headed into ever more complicated political waters on Monday as the Supreme Court declared the newly opposition-controlled legislature null and void and the opposition vowed to continue defying the judges.

Friday, January 8th 2016 - 11:46 UTC

Venezuela's problems are because it's “too capitalist” says new Economy czar

Luis Salas, 39, has scant administrative experience, but champions the same theories of price and currency controls that have defined Venezuela's economy

President Nicolas Maduro is doubling down on his existing economic policies with the appointment of a young leftist hardliner to head the country's dilapidated economy, setting the stage for confrontation between the ruling socialist party and the newly powerful opposition.

Friday, January 8th 2016 - 11:32 UTC

Chavez images and cult, new arena of dispute between Maduro and opposition

“Take the images to his daughters and widows,” Ramos said. “This place is no cemetery.”

Venezuela's government upped the ante Thursday against the new opposition-led Congress with a protest against the removal of images of venerated late populist leader Hugo Chavez and a legal appeal against the swearing-in of three legislators.

Wednesday, January 6th 2016 - 11:35 UTC

Venezuela's opposition takes control of the Legislative: vows to force out President Maduro

The new opposition speaker of the assembly, Henry Ramos Allup, said his side soon would take steps to force Maduro from office. “Here and now, things will change”

Venezuela's opposition broke on Tuesday the government's 17-year grip on the legislature and vowed to force out President Nicolas Maduro despite failing for the time being to clinch its hoped-for “supermajority.” The National Assembly swore in deputies to 163 of the 167 seats, with four lawmakers -- three opposition and one pro-government -- suspended pending a lawsuit over alleged electoral fraud.

Tuesday, December 22nd 2015 - 15:37 UTC

Strong exchange on human rights between Macri and Maduro's representative

Macri said his administration was happy to see the government of Venezuela accepted all the results from the recent legislative elections

At a summit marked by strong differences between Argentina and Venezuela, Mercosur signed a statement in defense of the “unrestricted support of human rights”. Earlier in the day there was a serious exchange between Argentine president Mauricio Macri who demanded all political prisoners in Venezuela be set free, and president Nicolas Maduro foreign minister who replied that Macri was 'meddling' in Venezuela's affairs and was applying a 'double standard' on the issue.

Tuesday, December 15th 2015 - 07:41 UTC

Moody's raises Cuba's rating to positive as it moves away from Venezuela dependence and is closer to US

'The positive outlook also anticipates that Cuban authorities will maintain the current reform momentum following the Communist Party Congress next April'

International ratings agency Moody’s Investors Service has moved Cuba’s economic from stable to positive, citing its lessening dependence on Venezuela and the possibility of more improved relations with the United States.

Saturday, December 12th 2015 - 02:55 UTC

All presidents confirmed attendance of Mercosur summit, including Macri and Maduro

Paraguay's Cartes will be handing the Mercosur chair for the next six months to Uruguay's Tabare Vazquez

The presidents of Mercosur member-countries have confirmed attendance to the group's summit scheduled for next 21 December and hosted by Paraguay, the country that currently holds the rotating chair, according to diplomatic sources in Asuncion.

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