REUTERS: Venezuela’s increasingly militant opposition stepped up its push to oust leftist leader Nicolas Maduro on Wednesday with protests that drew hundreds of thousands but also saw unrest leading to dozens of injuries and arrests. In an incident sure to inflame the already polarized situation, a policeman died after being shot on Wednesday night in central Miranda state. The government blamed… Read more »
REUTERS: In a curious convergence of events on the same day last week, four Venezuelan provincial courts issued identical rulings, state governors quickly hit Twitter to celebrate, then the election board emailed a short but bombshell statement. Opposition hopes for a referendum to recall President Nicolas Maduro were dashed, on grounds of fraud in an initial signature drive. The vote… Read more »
Over the past year, as we already know, the S.S. Chavez, steered by his successor Captain Maduro, has sprung a leak deep below the waterline and begun to sink. Then, perhaps, was it controlled; the pumps were still trying their best to displace the seawater surging into the bowels of the ship and the passengers were calmly and orderly boarding… Read more »
CNBC: For decades, jobs at Venezuela’s state-run oil giant PDVSA were coveted for above average salaries, generous benefits and cheap credit that brought home ownership and vacationing abroad within reach for many workers. Now, in Venezuela’s asphyxiating economy, even PDVSA employees are struggling to pay for everything from food and bus rides to school fees as triple-digit inflation eats away… Read more »
UPI: Talks with Russian officials this week could add additional weight to an oil production agreement reached last week in Algeria, Venezuela’s president said. State-owned Petróleos de Venezuela, known also as PDVSA, said through its official Twitter account that President Nicolas Maduro aims to carry a message to Russia about cooperating on production arrangements “It is very certain that we have… Read more »
CNN: After pouring billions into Venezuela over the last decade, China is cutting off new loans to the Latin American nation. It’s a major reversal of relations between the two nations, experts say. It also comes at the worst time for Venezuela, which is spiraling into an economic and humanitarian crisis. “China is not especially interested in loaning more money to Venezuela,”… Read more »
UPI: The governor of Venezuela’s Táchira state has said some drivers next week could begin to pay gas stations with Colombian pesos or U.S. dollars. Táchira Gov. José Vielma Mora said gas stations under the new currency program- aimed at Colombian drivers- will be jointly operated by Colombian companies and Venezuela’s government-owned Petroleos de Venezuela, or PDVSA, oil company. The… Read more »
AL JAZEERA: Venezuelan bus drivers have caused traffic chaos in Caracas by parking their buses in the street, protesting against the country’s economic crisis. Hundreds of drivers joined the strike on Wednesday, demanding better pay, more security against violent crime and spare parts for their buses. Tyres, car batteries and motor oil are on a long list of goods that have… Read more »
STRATFOR: A number of recent developments, protests on Thursday notwithstanding, have raised the odds that Venezuela could default on its foreign debt repayments, triggering a cascade of events that would destabilize the country. Though the country has lived with the specter of default for years, Venezuelan officials have shown a willingness — given the existential threat that a default would pose to the… Read more »
JAMAICA OBSERVER: Venezuela’s Minister of Foreign Trade, Jesus Farias says the country is seeking to expand its economic presence in the Caribbean. At a recent meeting with businessmen in the Dutch overseas territory of Bonaire, Farias said as part of actions promoted by the Venezuelan government to diversify its economy, the focus is that of presenting its exportable offer to other… Read more »