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OAS, Venezuela Declare Solidarity with Argentina in U.S. Hedge Fund Dispute

The Organization of American States (OAS) has declared its solidarity with Argentina in its sovereign debt dispute with a U.S. b

The Organization of American States (OAS) has declared its solidarity with Argentina in its debt repayment dispute with a U.S.-based hedge fund. Venezuela meanwhile has argued that the case underlines the need for a new regional financial architecture.

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Venezuela Promises Reform amid Debate over Economic Direction

In a speech last week about the performance of state oil company PDVSA in 2013, Vice President for the Economy Rafael Ramirez (p

The Venezuelan government has confirmed that it is planning a series of macroeconomic reforms to confront ongoing problems, provoking diverse reactions over the country’s economic direction.

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Venezuela’s Maduro Offers to Bury the Hatchet with Internal Critics

On Friday Venezuelan president Nicolas Maduro offered to renovate his government and bury the hatchet with the former ministers

Venezuelan president Nicolas Maduro has offered to renovate his government and end the dispute with the former ministers who recently criticized his leadership.

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Venezuela’s Economic “Architect” Giordani’s Exit from Government Causes Controversy

Jorge Giordani (AVN)

The dismissal of one of the government’s long standing economic figures, Jorge Giordani, from his ministerial post has caused debate and controversy in the South American country.

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Latin American Presidents Denounce “Siege” of Venezuela at G77 Summit

The presidents of Cuba (Raul Castro), Bolivia (Evo Morales), Ecuador (Rafael Correa) and Venezuela (Nicolas Maduro) at the openi

At the G77 + China Summit held in Bolivia over the weekend, several leftist Latin American presidents gave their public backing to Venezuelan president Nicolas Maduro and called for regional unity against what they consider an attempt at “conservative restoration” currently underway in the South American country.

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Venezuela’s Economy Vice President Outlines Strategy for Stability

Venezuela’s Vice President for the Economy, Rafael Ramirez, outlined planned changes to the exchange rate system, oil exports

Venezuela’s Vice President for the Economy, Rafael Ramirez, has outlined planned changes to the exchange rate system, oil exports and gasoline subsidies as part of a strategy to achieve macroeconomic stability and overcome current economic problems.

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Major Airlines to Regulate Fares in Venezuela as Transport and Oil Costs Rise

Airline representatives in discussion in Venezuela. (@RMarcoTorres)

Yesterday Venezuelan Air and Maritime Transport Minister, Herbet Garcia Plaza, announced the government had reached an agreement with representatives of leading international airlines to regulate the cost of air travel to and from the country.

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Venezuelan Government Signs Agreement with Six Airlines to Settle Debt, Ticket Prices Still in Flux

Venezuela’s Minister of Sea and Air Transportation, Herbert García Plaza (archive)

Today Venezuela’s Minister of Sea and Air Transportation, Herbert García Plaza; Minister of Tourism, Andrés Izarro and President of the National Center for External Commerce, Alejandro Fleming, signed an agreement with representatives of six airlines.

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Alitalia Suspends Service to Venezuela, IATA Warns of Further Withdrawals

Before May, Alitalia flew 5 times a week to and from Caracas. (BBC Mundo/AFP)

Italian Airline Alitalia, whose services represent 22% of the routes between Europe and Venezuela, has announced the suspension of its operations in the South American nation, starting June 5th.

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Venezuela’s Maduro Hopes to Boost Production with New Multi-Million Investment Fund

Venezuelan president Nicolas Maduro yesterday announced the creation of a new national investment fund to boost production and h

Venezuelan president Nicolas Maduro yesterday announced the creation of a new national investment fund to boost production and help overcome existing economic problems.

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Maduro: Universal Welfare Aim of Venezuela’s Socio-Economic Model

Maduro economic announcement

Venezuelan president Nicolas Maduro announced new initiatives yesterday to address current economic problems, stating that guaranteeing the population’s universal welfare is a key aim behind policymaking.

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Venezuelan Annual Wage Increase Below Inflation For First Time in 15 Years

Maduro said the national government has awarded 25 wage increases in the last 15 years (Prensa Presidencial)

Yesterday, President Nicolas Maduro announced a 30% increase in the minimum wage and pensions. For the first time, the Bolivarian government’s May Day increase is less than annual inflation, which was at 57.3% in February, with March experiencing 4.1% inflation.

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Political Violence Stokes Inflation in Venezuela, Says Central Bank

The BCV has warned that inflation could continue to rise, following a four month high of 4.1% increase in March. (Archive)

Venezuela’s central bank has blamed political violence for the highest monthly inflation rate in four months.

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President Maduro Holds Conference with Businesses, Aims to End “Economic War”

Maduro in factory

Last night President Nicolas Maduro presided over an Economic Conference for Peace with over 650 business people and leaders from private and public sectors. He announced a range of economic measures as part of his new “economic offensive”.

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Venezuela’s Maduro Unveils New “Economic Offensive”

Maduro reiterated plans to export one million barrels of oil per to China (AVN)

After meeting with Chinese foreign minister Wang Yi, Venezuelan president Nicolas Maduro outlined a “new offensive” for the Venezuelan economy, supported by three key objectives; to increase production, to eradicate scarcity and control speculation by enforcing fair prices. 

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