Venezuela

• Tuesday, January 26th 2016 - 07:34 UTC

  Venezuela could lose UN voting rights because of US$ 3m in arrears

  

  St. Vincent and the Grenadines, Venezuela and the Dominican Republic are among nine countries that have lost their voting rights at the United Nations because of arrears in their annual contributions to the world body.

• Monday, January 25th 2016 - 10:01 UTC

  IMF estimates 2016 Venezuela inflation at 720% and 8% economy contraction

  

  Venezuela’s consumer inflation, already the world’s highest, will more than double this year surging to 720% in 2016 from 275% last year, according to a note published by the IMF’s Western Hemisphere Director, Alejandro Werner.

• Friday, January 22nd 2016 - 05:12 UTC

  Banks don't discard credit-short Venezuela will undergo a 'credit event' in 2016

  

  Slumping crude prices have investors and analysts warning of a potential messy default in Venezuela, with state-owned oil company PDVSA owing some US$10 billion in external debt payments due this year. With crude hovering around US$28 per barrel, Venezuela could have trouble satisfying its obligations.

• Tuesday, January 19th 2016 - 06:47 UTC

  Bank of America anticipates strong devaluation for bankrupt Venezuela

  

  Bank of America predicted president Nicolas Maduro would merge Venezuela’s three-tier currency controls into two, replacing the strongest rate of 6.3 bolivars to the dollar with a level of 35. Greenbacks go for around 865 bolivars on the black market.

• Saturday, January 16th 2016 - 10:58 UTC

  Venezuela in “economic emergency”: Q3 inflation 141.5% and GDP down 7.1%

  

  Venezuelan President Nicolas Maduro's government has decreed a 60-day “economic emergency” for the recession-hit OPEC nation reeling from low oil prices and a sputtering state-led economic model. The government on Friday also published the first macroeconomic data for more than a year, showing GDP dropped in the third quarter while inflation surged.

• Wednesday, January 13th 2016 - 07:46 UTC

  Venezuela's First Lady claims her two 'narco-nephews' were kidnapped by DEA

  

  Venezuela's first lady on Tuesday broke her silence on the arrest of her two nephews on drug trafficking charges, saying they were kidnapped by the U.S. Drug Enforcement Administration.Cilia Flores, who serves in congress, told Venezuelan weekly Tal Cual that the U.S. was seeking revenge and trying to force the socialists from power in Venezuela.

• Wednesday, January 13th 2016 - 05:34 UTC

  Venezuela's 'super majority' power struggle paralyzes government

  

  Venezuela sank deeper into a messy political crisis Tuesday as the opposition-controlled National Assembly suspended its session after the Supreme Court declared it null and void. Speaking before a nearly empty chamber, speaker Henry Ramos Allup, a fierce opponent of President Nicolas Maduro, declared the National Assembly lacked a quorum and would reconvene Wednesday morning.

• Tuesday, January 12th 2016 - 07:36 UTC

  Judicial and Legislative branches clash in Venezuela threatening institutional stability

  

  Venezuela headed into ever more complicated political waters on Monday as the Supreme Court declared the newly opposition-controlled legislature null and void and the opposition vowed to continue defying the judges.

• 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.

• Friday, January 8th 2016 - 11:32 UTC

  Chavez images and cult, new arena of dispute between Maduro and opposition

  

  Venezuela's government upped the ante Thursday against the new opposition-led Congress with a protest against the removal of images of venerated late populist leader Hugo Chavez and a legal appeal against the swearing-in of three legislators.