Venezuela

Venezuela
Tuesday, February 10th 2015 - 05:45 UTC

S&P downgrades Venezuela long term credit rating to CCC

S&P said Venezuela's economy could shrink 7% this year, with further contraction possible in 2016. It added inflation could reach 100% or more

Ratings agency Standard and Poor's on Monday downgraded Venezuelan long-term credit ratings to CCC from CCC+, citing falling oil prices and the government's failure to address economic distortions.

Friday, January 30th 2015 - 08:25 UTC

Chavez died December 2012 and not March 2013, says former bodyguard

Leamsy Salazar who fled Venezuela earlier this week said late president Hugo Chávez did not die on 5 March 2013 but on 30 December 2012.

A former bodyguard of Venezuela’s Socialist Party heavyweight Diosdado Cabello Leamsy Salazar, who fled the country earlier this week and was reportedly collaborating with US authorities investigating allegations of Venezuelan officials' involvement in drugs, said late president Hugo Chavez did not die on 5 March 2013 but on 30 December 2012.

Tuesday, January 27th 2015 - 06:50 UTC

Oil Prices Changing The Face Of Global Geopolitics

Venezuela is even more dependent than Russia on the price of oil

In a documentary that aired recently on the Canadian Broadcasting Corporation's popular The Fifth Estate program, an allegory of Vladimir Putin was presented. The wily Russian president was described growing up in a shabby St. Petersburg apartment, where he would often corner rats.

Monday, January 26th 2015 - 07:17 UTC

Venezuela denies authorization to former presidents to visit political prisoner

Piñera and Pastrana, former Chile and Colombia presidents are participating in a forum in Caracas to discuss democracy

The Venezuelan government has turned down a request by former presidents of Chile and Colombia to visit opposition leader Leopoldo Lopez in jail. Chile's Sebastian Piñera and Colombia's Andres Pastrana say they are in Venezuela to support the opposition and have called for the release of Mr Lopez, who was arrested nearly a year ago.

Friday, January 23rd 2015 - 05:43 UTC

In “God will provide” speech Maduro admits economic failure and calls for unity

Maduro announced a new, third dollar exchange system using private brokers to counter the black market, where the currency trades at some 177 Bolivares

In a three-hour State of the Nation speech to the National Assembly on Wednesday night, president Nicolás Maduro acknowledged some of the economic realities facing Venezuela: the economy contracted by 2.8% in 2014 and inflation stood at 64%.

Tuesday, January 13th 2015 - 07:30 UTC

Arrests in Venezuela following protests over swelling lines for basic goods

President Nicolás Maduro, whose popularity has plunged, says right-wing agitators and Venezuela's elite are trying to topple him via an “economic war.”

At least a dozen protesters arrested in Venezuela remained in jail and masked assailants burned a bus overnight amid scattered unrest over swelling lines for basic goods, activists said.

Thursday, January 8th 2015 - 05:34 UTC

Maduro announces 20bn dollars in investment credits from China

The Venezuela leader made the statements from Beijing after holding a meeting with Chinese President Xi Jinping.

President Nicolas Maduro said on Wednesday he had secured a total of more than 20 billion dollars in investment from major creditor China for economic, social, and oil-related projects.

Saturday, January 3rd 2015 - 06:11 UTC

Maduro and Biden shake hands and meet briefly at Rousseff's inauguration

According to Venezuelan sources Maduro reiterated his call for respectful relations with the US

On the sidelines of the inauguration of Brazil's President Dilma Rousseff at the Planalto Palace seat of Brazil's Executive, U.S. Vice President Joe Biden met briefly with Venezuela President Nicolas Maduro in a hand-shake facilitated by Uruguay President Jose Mujica.

Friday, January 2nd 2015 - 05:19 UTC

Venezuela takes its seat at the UN Security Council replacing Argentina

“Under Chavez’s Bolivarian vision we will accomplish our task of defending the right to peace and sovereignty of the peoples of the world,” claimed Maduro

As of January first Venezuela is holding a non-permanent seat at the UN Security Council for two years (2015-2016). In such position, the government will have to take a stance on global issues, based on its “multi-center, pluri-polar world” approach.

Wednesday, December 31st 2014 - 03:23 UTC

Venezuela admits recession in the last three quarters and inflation of 63.6%

Maduro blames protests from the opposition to the poor performance of the Venezuelan economy

Venezuela confirmed on Tuesday it had entered a recession while inflation remained the highest in the Americas, but President Nicolas Maduro's populist government blamed political foes for the dismal data. According to the latest Central bank information, GDP contracted in each of the first three quarters: 4.8%, 4.9% and 2.3%, while twelve-month inflation reached 63.6% in November.

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