Venezuela's annual inflation rate rose to 57.3% in February, the central bank said as violent opposition demonstrations during the month disrupted the economy. However the bank also pointed out that despite the protests inflation slowed on a month-on-month basis to 2.4% from 3.3% in January.
Venezuela said the current political unrest in the country poses no danger to the future of the Bolivarian Alliance for the Peoples of the Americas(ALBA) and the oil initiative PetroCaribe.
Venezuela's state prosecutor said on Thursday the death toll from a month of violent protests had risen to 28, after the nation's top court ordered opposition mayors to dismantle barricades set up by street protesters.
Protesters battled soldiers on Wednesday in the streets of Caracas again as three more fatal shootings raised to 25 the death toll from a month of demonstrations against Venezuela's populist government.
Despite strong criticism from the opposition the Uruguayan government said it is prepared to receive Venezuelan president Nicolas Maduro on an official visit, and there is a 99% chance that this could occur next Thursday, said foreign minister Luis Almagro.
US Vice President Joe Biden will hold talks with Latin American leaders about protest-hit Venezuela during his trip to Chile from Sunday for the inauguration of President Michelle Bachelet scheduled for Tuesday and which is expected to convene regional leaders.
Latin American foreign ministers and most probably presidents, will meet next week to discuss the unrest in Venezuela that has left at least 21 dead and hundreds injured and arrested following weeks of protests and clashes, according to the Ecuadorean president Rafael Correa.
The Organization of American States (OAS) Permanent Council approved late Friday night after a whole day of discussions and by an ample majority, a statement in support of peace and an end to violence in Venezuela, where street protests and clashes have left at least 22 dead and hundreds injured and arrested.
With an eye on Argentina and Venezuela, Brazil private sector wants Mercosur trade in local currencies
Brazil's private sector concerned with harsh times ahead, particularly with exports to Argentina and Venezuela are proposing that Mercosur trade should be done with local currencies leaving aside the US dollar. The initiative was launched by the president of the Brazil-Argentina Commerce Chamber.
A Venezuelan soldier and a motor cyclist were killed in a standoff with opposition demonstrators who had set up a barricade along an avenue of Caracas, the vice president of the ruling Socialist Party said on Thursday.