Nicolas Maduro, the Socialist president of recession-hit and hyperinflation-stifled Venezuela, was the most vocal supporter and promoter of an OPEC deal to reduce oil supply in a bid to lift 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
For the three titans of Latin American oil — Pemex, PDVSA and Petrobras — last week’s OPEC-driven price rally won’t be enough to halt a slow descent from the ranks 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
China’s move to invest $2.2 billion in Venezuela for a share of increased crude production shows a desire to extract itself from the country’s political fights while securing access to 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
