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Venezuela Tops Latin America in Military Spending Cuts, Slashes Arms Budget by 34%

While Venezuela makes significant cuts in arms spending, the US continues to maintain the largest military budget worldwide, amo

According to a new report by the Stockholm International Peace Research Institute (SIPRI), Venezuela reduced its military budget by 34 percent in 2014, leading the region in arms spending cuts.

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Major Progressive Tax Reforms in Venezuela Start to Bear Fruit

Venezuela’s anti tax evasion drive has seen the country’s fiscal authority, SENIAT, collect more than 200.9 billion Bolivars

The latest figures show that the country’s total tax revenue almost doubled in the first three months of 2015 thanks to government efforts to tighten up a progressive taxation system over the past 6 months. 

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Venezuelan Government Confronts Forex Scammers with New Measures

Since 2003, Venezuela has maintained currency exchange controls aimed at curbing inflation. | (Photo: Venezuelanalysis/ Ryan Mal

Venezuelan government officials have announced new measures to reduce commonly practiced forex scams which have long dogged the country’s economy.

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Venezuela Moves Forward with Special Economic Zones to Attract Investment in Development

Venezuela's Vice-President of Planning Ricardo Menendez outlined the plans on Monday. (AVN)

The SEZ draw their inspiration from the Chinese model of "market socialism" imposed by Deng Xiaoping in the 1980s, which sought to promote state-regulated capitalist development in specific areas of the country.

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Website “Dolar Today” Causing “Irreparable Damage” to Venezuela, says Owner of Forex Centre

A screen shot of the website's exchange rates: the first one is bolivars per dollar by wire transfer, the second is for cas

Carlos Dorado, Venezuelan entrepreneur and owner of one of the country’s longest standing currency exchange centres, ItalCambio, has launched a public plea to remove the website “Dolar Today” due to the “irreparable damage” which the website is causing to the national economy.

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Two Supermarket Executives Charged With Hoarding in Venezuela

Essential items were discovered in a warehouse belonging to the Dia Dia supermarket chain, February 2, 2015 (Photo: @VillegasPol

Two managers of the private supermarket chain Dia Dia were formally charged by the Venezuelan state prosecutor yesterday with the alleged crimes of boycott and destabilization of the economy.

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World Bank Rules in Venezuela's Favor, Rejects "Exorbitant Compensation" in Tidewater Nationalization Case

ICSID rules in favor of Venezuela in Tidewater case in Lake Maracaibo  (RNV)

The International Center for Settlement of Investment Disputes (ICSID) of the World Bank ruled in favor of Venezuela on Monday, rejecting the "exorbitant compensation" demanded by Tidewater.

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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.

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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.

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What Is Happening in Venezuela?

Opposition supporters protest against the Venezuelan government and in support of jailed opposition leaders Leopoldo Lopez and A

Coups and countercoups. Crackdowns. Economic crackups. Seven cents for a tube of toothpaste and $755 for a box of condoms. Falling oil prices. The arrest of an opposition leader. Washington plots. Human Rights Watch tweets. South America rallies.... Greg Grandin talks to a panel of experts to find out what really is going on in Venezuela.

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