In recent weeks, the government here hinted it was considering controversial steps to ease a deepening economic crisis, including raising the price of gasoline. But on Tuesday night, in a widely anticipated address, President Nicolás Maduro didn’t unveil any major economic adjustments. Instead, the president announced a cabinet shake-up that removed Rafael Ramírez, the powerful oil minister, who was seen as a proponent of modest changes. Investors didn’t take long to deliver their verdict. The price of Venezuela’s benchmark bond on Wednesday fell hard for the second consecutive day to levels last seen in April, while yields on some bonds from Petróleos de Venezuela climbed to nearly 15%, among the highest in emerging markets. “All of those promises have fallen flat because he […]