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Venezuela’s Maduro Names New Ministers in Cabinet Shakeup

Venezuelan President Nicolas Maduro speaking on his weekly television program on Tuesday. (AVN)

Venezuelan President Nicolas Maduro appointed on Tuesday new heads for the ministries of Interior, Justice, and Peace, Industry and Commerce, as well as Transport and Public Works.


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Does Venezuela’s Crisis Prove Socialism Doesn’t Work?


Ryan Mallett-Outtrim gives a run-down of the root causes of Venezuela's economic problems, arguing that the government's maintenance of exchange controls, not socialism, has sunk the country into a financial black hole.

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In Venezuela, Dismantling a Weapon of Mass Destruction


Economist Mark Weisbrot makes a case for unifying Venezuela's now double-tiered exchange rate.

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Venezuela Partially Floats Exchange Rate, Sees Rise by 42 Bolivars


Venezuela’s uppermost SIMADI exchange rate closed at 249.56 bolivars per dollar on Tuesday, amounting to a 42.64 increase since the government instituted a partial float on March 10.


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What is at Stake is not the Stability of a Government but the Viability of a Nation

Economist and ex-minister Victor Alvarez (archives)

In this interview, investigator and former Mining and Basic Industries Minister, Victor Alvarez, argues that the government must implement an economic stabilisation plan with social welfare before it is too late.

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Venezuela Makes $1.5 Billion Bond Payment

Venezuela paid USD $1.5 billion in sovereign bonds on Friday. (Archive)

Venezuela made a USD $1.543 billion payment to international bondholders on Friday as part of its 2016 debt obligations amounting to $9.6 billion.

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Venezuela Begins Printing 500 and 1000 Bolivar Bills, Signs Oil Deal with Russia

100 Bolivar bills (courtesy)

Venezuela’s Central Bank announced Monday that it would begin printing 500 and 1000 Bolivar bills while phasing out smaller denominations in a bid to keep pace with the country’s soaring inflation.

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Top Oil Exporters Agree to Production Freeze as Venezuela Creates Military Oil and Mining Company

Minister Del Pino with his Russian, Saudi, and Qatari counterparts. (Press release)

The governments of Venezuela, Russia, Saudi Arabia, and Qatar reached a deal Tuesday to freeze their crude oil output at January levels following a brief meeting in Doha.

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UPDATED: Venezuelan Businessman Replaces Leftist Sociologist as Economy Czar

New Vice-President for Productive Economy Miguel Pérez Abad. (VTV)

Venezuelan President Nicolas Maduro announced yesterday his decision to appoint the former businessman and sitting commerce minister, Miguel Pérez Abad, as Vice-President for Productive Economy, replacing left-wing political economist Luis Salas after just six weeks in the position.

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Venezuelan Parliament Blocks Emergency Economic Decree

Venezuela’s National Assembly. (AFP)

Venezuela’s opposition-controlled National Assembly rejected Friday an emergency economic decree that would have granted President Nicolas Maduro special powers to confront the country’s worsening economic crisis.

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