Venezuela’s “Petro” crypto-currency will attract investments from Turkey, Qatar, the U.S., and Europe, the country’s crypto-currency regulator, Carlos Vargas, told reporters. The Petro will be offered for sale this Tuesday, February 20th, and comes as Venezuela is suffering from quadruple-digit inflation and chronic shortages of food and medicine.
The government of Peru announced through its prime minister, Mercedes Aráoz, that it has withdrawn the invitation it sent to Venezuelan President Nicolás Maduro in November to attend the eighth Summit of the Americas, to be held in Lima on the 13th and 14th. of April; a week of the criticized presidential elections decreed by the Constituent Assembly in Venezuela.
Venezuela's president, Nicolas Maduro, announced that he will attend the Summit of the Americas “at all costs” to bring “the truth of the country” at a press conference at the presidential palace in Caracas despite the Peruvian government reported that his presence would not be welcome in the Andean country.
Brazil will not block Venezuelans from entering the country through the border in the northern state of Roraima, but has launched a task force to organize the flow and provide resources for cities and states dealing with the refugees.
Emerging markets trade group EMTA has recommended that bonds issued by Venezuela’s state-owned oil firm PDVSA should be traded flat or without accrued interest, the way bonds in default are typically traded.
U.S. prosecutors announced charges against five former Venezuelan officials accused of soliciting bribes in exchange for helping vendors win favorable treatment from state oil company PDVSA, the latest case to stem from a US$1 billion graft probe.
The “Lima Group” of Latin American nations plus Canada on Tuesday criticized the Venezuelan government’s decision to hold a presidential election on April 22 without reaching an agreement with an opposition coalition.
Brazilian President Michel Temer criticized the government of neighboring Venezuela for leading that country into a crisis that is causing an exodus of refugees into northern Brazil. Brasilia has called for democratic reforms by Venezuelan President Nicolas Maduro, who has consolidated power as his country’s economic crisis deepens with shortages of food and medicine.
The British Ambassador to Venezuela, Andrew Soper, presented his Letter of Credentials to President Nicolás Maduro during a ceremony at the Miraflores Presidential Palace in Caracas.
Colombia and Brazil tightened border controls with Venezuela on Thursday as both nations grapple with a mounting influx of hundreds of thousands of desperate migrants fleeing a worsening economic crisis In a visit to the border region, Colombian President Juan Manuel Santos said he would impose stricter migratory controls, suspend new daily entry cards for Venezuelans and deploy 3,000 new security personnel along the frontier, including 2,120 more soldiers.