Skip to Navigation


Ernesto Villegas: Bachaqueo is the Free Market in its Worst Dimension

Ernesto Villegas (Photo: AVN)

The renowned Venezuelan journalist and politician Eneresto Villegas discusses bachaqueo, or the widespread practice of reselling food items, from a Marxist perspective.

» read more

It is Necessary to Contextualize the Pragmatic and Populist Policies of the Chavista Government: An Interview with Steve Ellner

Steve Ellner is a well-known analyst of Venezuelan and Latin American politics and is a retired professor at the Universidad de

In the first section of this two-part interview, academic Steve Ellner discusses the recent charges of populism and pragmatism levelled at the Maduro-led government within the broader context of Chavista strategy vis-a-vis private sector business interests and the transition to socialism as a whole.

» read more

Venezuela Makes Debt Payment Despite Talk of Default

President Nicolas Maduro made the debt announcement on Monday during a meeting in the presidential palace March 16, 2015 (Photo:

The government of Venezuela serviced its debt with a US$1 billion payment Monday, debunking myths that the country is on the verge of a default.

» read more

Extreme Poverty in Venezuela Drops to Record Low

More than 36,000 Venezuelans escaped extreme poverty in 2014. (AVN)

The level of extreme poverty in Venezuela dropped to a record low of 5.4 percent in 2015, Social Development Minister Hector Rodriguez said Monday.

» read more

Venezuela Continues to be Chavista, According to New Poll


The poll also highlighted that 57% of citizens have faith in President Nicolas Maduro's capacity to improve the economy, while a substantial 80% of those questioned believe that human rights are guaranteed in the country.

» read more

Venezuela: Heinz Dieterich the Prophet of Doom – Or how not to save the Bolivarian Revolution

Maduro during the April 2013 elections (In Defence of Marxism)

Alan Woods responds to an article published by Heinz Dieterich on the Venezuelan leftwing website Aporrea, in which the German academic claims that 2015 will be the Maduro government´s last year in office.

» read more

Bias Creates Investment Opportunities in South American Bonds

Despite continued reporting that Venezuela will default on its debt, Mark Weisbrot, co-founder of the Center for Economic and Po

Despite continued reporting that Venezuela will default on its debt, Mark Weisbrot, co-founder of the Center for Economic and Policy Research, argues that default is unlikely.

» read more

Venezuelan Government Unveils 2015 Budget, Anticipates Drop in Oil Prices

Venezuelan finance minister Rodolfo Marco Torres presented the 2015 budget on Tuesday. (@RMarcoTorres)

On Tuesday, Venezuelan finance minister Rodolfo Marco Torres presented the outline of the 2015 government budget, which features heightened investment in pension programs, healthcare, and university expansion.

» read more

Maduro Announces the Creation of the Communal Development Bank

Venezuelan president Nicolas Maduro. (AVN)

On Tuesday, President Maduro announced the creation of the Communal Development Bank and the Presidential Council of Popular Communes as a new structure to bolster local popular power.

» read more

Why Venezuela Should Not Default


In a provocative article published last week Venezuelan economists Ricardo Hausmann and Miguel Angel Santos make an argument that if authorities adopted a set of common-sense policies, they argue, these would include defaulting on the country’s foreign debt and making bondholders bear part of the burden of adjustment. Francisco Rodríguez  argues that Venezuela should not default on its debt because default Venezuela is not insolvent.

» read more

Syndicate content