Tag: venezuela economy

• Friday, January 8th 2016 - 11:46 UTC

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

  

  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.

• Wednesday, March 18th 2015 - 08:37 UTC

  Brazil coordinates efforts to guarantee supply of basic products to Venezuela

  

  Following a request from Venezuela, the Brazilian government has acted alongside Brazilian companies to guarantee supply of basic products during Venezuela's economic crisis, according to diplomatic sources. The request was made by President Nicolas Maduro in at least two meetings with President Dilma Rousseff, in December 2014 and the day after Rousseff began her second term, on January 2.

• Friday, January 23rd 2015 - 05:43 UTC

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

  

  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

  

  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.

• Wednesday, December 31st 2014 - 03:23 UTC

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

  

  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.

• Monday, December 29th 2014 - 08:04 UTC

  Lopez: 'Venezuela on the brink of collapse'

  

  Human rights traded for other means of survival as shortages hit average people, says the 43-year-old Harvard graduate from his prison cell in a letter to the Wall Street Journal .

• Thursday, November 28th 2013 - 10:31 UTC

  Maduro tells Central bank he expects 5% deflation in November because of the mandatory price cuts

  

  President Nicolás Maduro has sent clear messages to the Venezuelan central bank arguing that following the 'economic war' he declared on big business and hoarding with the mandatory cuts in prices, November should register “5% deflation and not inflation”.

• Monday, November 25th 2013 - 08:03 UTC

  Tens of thousands turn out to the streets to protest Venezuela economic situation

  

  Tens of thousands of opposition supporters marched in Venezuela on Saturday to pressure President Nicolás Maduro’s government before December 8 local elections after their leader denounced the pre-dawn arrest of an aide.

• Friday, November 8th 2013 - 06:00 UTC

  Venezuela joins the hyperinflation club: 54.3% in last twelve months and climbing

  

  Venezuela's consumer prices rose 5.1% in October, pushing the 12-month inflation rate to 54.3%, the highest mark since the late President Hugo Chávez took power in 1999. The news was released by the central bank on Thursday which also revealed that the scarcity index had reached its highest level since 2009.

• Wednesday, August 14th 2013 - 19:36 UTC

  After inflation hits 42%, Maduro names a more pragmatic president to the Central bank

  

  Venezuela President Nicolas Maduro appointed the third central bank president this year as Latin America’s biggest oil exporter seeks to rein in the fastest inflation among the world’s major economies.