Tag: Venezuela

• Monday, November 27th 2017 - 09:21 UTC

  Venezuela Oil ministry and PDVSA come under military control

  

  Venezuelan President Nicolas Maduro on Sunday tapped a National Guard major general to lead state oil company PDVSA and the Oil Ministry as the OPEC member labors under near 30-year lows in oil production.

• Monday, November 20th 2017 - 19:22 UTC

  Venezuelan street markets trade staples in spoonful portions forced by poverty and scarcity

  

  Poverty and scarcity are so extended in Venezuela that people now sell and buy food by the spoonful in a desperate attempt to overcome a situation that has worsened as the economy has entered into a growing hyperinflationary cycle.

• Monday, November 20th 2017 - 11:53 UTC

  Calls for an ICC investigation into abuses of murder and torture by Venezuelan leaders

  

  Venezuela’s former attorney general urged the International Criminal Court to launch an investigation into alleged abuses of murder and torture by the leaders of the crisis-hit country. President “Nicolas Maduro and his government must pay for this, for these crimes against humanity,” said Luisa Ortega, after handing over to the tribunal in The Hague a dossier containing 1,000 pieces of evidence.

• Monday, November 20th 2017 - 08:46 UTC

  Caracas ex mayor flees Venezuela and pledges to denounce the Maduro regime worldwide

  

  The ousted mayor of Caracas pledged to spread his protest against Venezuela's socialist government across the world as he arrived in Spain on Saturday, a day after escaping from house arrest and slipping past Venezuelan security forces into Colombia.

• Thursday, November 16th 2017 - 09:08 UTC

  Russia gives Venezuela a hand and restructures US$ 3.15bn debt over a 10-year period

  

  Russia and Venezuela signed a debt restructuring deal on Wednesday allowing Caracas to make “minimal” payments to Moscow in the next six years to help it meet obligations to other creditors, the Russian Finance Ministry said. Under the deal, Venezuela will pay Russia back a total of US$ 3.15 billion over a 10-year period, the ministry said.

• Tuesday, November 14th 2017 - 10:50 UTC

  Venezuela wants bondholders to press the US government to lift sanctions and allow debt restructuring

  

  Venezuela hosted a brief meeting of creditors on Monday as the struggling yet oil-rich country sought to stave off a default seen as inevitable by experts, while the EU stepped up the pressure with new sanctions on Caracas.

• Tuesday, November 14th 2017 - 09:02 UTC

  Powerful friends boycott UN Security Council meeting on Venezuela; EU approves arms embargo

  

  Russia, China, Egypt and Bolivia boycotted an informal public United Nations Security Council meeting on Venezuela on Monday organized by the United States, saying the 15-member body should not be involved in the situation.

• Monday, November 13th 2017 - 07:17 UTC

  Venezuela summons bond holders to a creditors' meeting in Caracas

  

  Venezuela's foreign debt renegotiation committee will meet with creditors at 2 p.m. (1800 GMT) on Monday at the government's “White Palace” in downtown Caracas, the finance minister said on Saturday.

• Friday, November 3rd 2017 - 07:58 UTC

  Maduro announces “restructuring of all future debt payments”; default round the corner?

  

  Venezuela on Thursday announced plans to restructure its burgeoning foreign debt, a move that may lead to a default by the cash-strapped OPEC nation whose collapsing socialist economy has left its population struggling to find food and medicine.

• Monday, October 30th 2017 - 07:00 UTC

  Venezuela makes last minute major bond payment, but 2018 service will demand US$ 10bn

  

  Venezuelan state oil company PDVSA began making a major bond payment, easing short-term worries about default but leaving the populist government with less cash to attend to food shortages and economic depression.