Category: Latin America

MARACAIBO, Venezuela—Desperate and cashless Venezuelans, angry that the government hasn’t exchanged their voided bank notes as officials had pledged, on Friday rose up in protest with some scattered looting of Continue Reading

Venezuela’s highest denomination banknote has ceased to be legal tender, in a move that has caused cash chaos and long queues at banks this week. Some cash machines on Thursday Continue Reading

Long queues continued to form outside banks across the Venezuelan capital Caracas on the day President Nicolás Maduro was set to do away with smaller denomination bank notes, amid mounting Continue Reading

Venezuelans desperately rushed to banks Tuesday to dump cash after the government announced it is eliminating the largest bank note in circulation to combat contraband in a country whipsawed by Continue Reading

Lining up from dawn with backpacks and plastic bags full of cash, Venezuelans flocked to banks across the nation on Tuesday to ditch 100-bolivar bills after President Nicolas Maduro’s surprise Continue Reading

Venezuela’s economic, humanitarian and political crisis has not shown any sign of improving since the opposition and the government started “the dialogue” mediated by the Vatican and UNASUR. The crisis Continue Reading

Venezuela – one of the OPEC deal’s staunchest promoters and supporters – produces around 500,000 barrels per day of heavy oil, and this figure has been left out of the Continue Reading

Bringing skills she gained working at a bank to her grocery store in Caracas, beset by a triple-whammy of ravaging food shortages, galloping inflation and plummeting currency, Miriam Borthomier relies Continue Reading

Venezuela has run out of cash. Not metaphorically, mind you: The country literally doesn’t have enough cash to go around. Two weeks ago, facing an acute shortage of paper money, Continue Reading

After years of soaring prices reduced the value of the largest 100-bolivar bill to just a few U.S. cents, Venezuelan authorities are finally preparing to issue larger-denomination bank notes, much Continue Reading

It’s not so easy to find someone who still uses a wallet in Venezuela, where inflation is expected to reach 720 percent this year and the biggest bill — 100 Continue Reading

The dark outlines of land had just come into view when the smuggler forced everyone into the sea. Roymar Bello screamed. She was one of 17 passengers who had climbed Continue Reading

Venezuela’s opposition said on Wednesday that talks with the government were “frozen” after officials failed to attend meetings the previous day, throwing cold water on Vatican-brokered attempts to bridge the Continue Reading

Venezuela’s state oil company reportedly is delaying $404 million in bond payments in an apparent sign that the oil giant’s financial woes are worsening amid the slump in petroleum prices. Continue Reading

Venezuela’s state oil company PDVSA has apparently only made a partial interest payment due on three bonds last week.  About $539m of coupon payments on bonds maturing in 2021, 2024 Continue Reading

As the U.S. dollar climbs higher and higher (and higher), the crude complex is getting blown over by the gale-force headwinds it is providing. We edge closer and closer to Continue Reading

Venezuela’s imports plummeted by more than 45 percent between January and August when compared to the same period in 2015, according to a Nov. 15 report from Torino Capital LLC. Continue Reading

An oil spill in Venezuela’s Anzoategui State has affected drinking water across a 31-mile radius, PDVSA confirmed on Monday. Anzoategui State is known for its beautiful coastline that makes up Continue Reading

Venezuelan President Nicolás Maduro dancing the salsa, an ability his supporters cite as evidence of… CARACAS, Venezuela—Call it Venezuela’s own birther movement. Desperate to end 18 years of Socialist rule, Continue Reading

Venezuelan state oil company PDVSA on Friday announced financing deals totaling nearly $1.45 billion with local firm Delta Petroleum and India’s ONGC that will be used to raise production at Continue Reading

Sales of Venezuelan crude to the United States fell 23 percent in October to 601,605 barrels per day (bpd) due to fewer shipments of diluted oil from the country’s main Continue Reading

Venezuela’s opposition exhorted President Nicolas Maduro on Thursday to set an election and start releasing jailed activists within days, while students opposed to Vatican-led talks protested in the streets. The Continue Reading

Investors increased short-term default expectations to 54% Bonds fell in October as political standoff intensified Venezuela, which has the largest crude reserves on the planet, has defied predictions of default Continue Reading

Some Venezuelan city dwellers are trying to grow their own produce to offset the country’s severe shortages following socialist President Nicolás Maduro’s calls for “food sovereignty.” But in a country Continue Reading

Venezuela’s opposition has agreed to suspend a national protest and delay a parliamentary trial against President Nicolás Maduro, after the Vatican stepped up its effort to cool the country’s heated Continue Reading

Venezuela’s Socialist government, a vocal critic of the dollar’s global dominance, has hired the exclusive supplier of U.S. currency paper to provide the bulk of its new bank notes. Earlier Continue Reading

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 Continue Reading

Venezuela’s opposition stepped up its dispute with the socialist government on Wednesday with mass street protests, calls for a general strike on Friday and a fresh march on the presidential Continue Reading