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Economy

Venezuela Set to Export Fishing and Aquaculture Products to El Salvador

A socialist fish market in Venezuela. (INSOPECA)

Venezuela and El Salvador signed bilateral cooperation agreements this week in Caracas.

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Venezuela’s Maduro Names New Central Bank President

Ricardo Sanguino. (Archive)

Venezuelan President Nicolas Maduro announced the appointment of a new head of the country’s Central Bank (BCV) Sunday following the resignation of current president Nelson Merentes, who occupied the position since 2009.

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2.75 Million New Banknotes Enter into Circulation in Venezuela

Venezuela's latest 20,000 banknote against the recently recalled 100 banknote featuring the image of Simón Bolivar (Archiv

Venezuelan Central Bank (BCV) Director José Khan confirmed that the country's new higher denomination bank notes had entered into circulation on Monday.

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National Minimum Wage to Increase 50% in Venezuela

Venezuelan president Nicolas Maduro announced the wage increase during his television programme “Sundays with Maduro” (AVN).

Venezuelan President Nicolás Maduro announced the latest wage hike on Sunday evening. 

 

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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?

(Shutterstock.com)

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

(Aporrea)

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

(Archive)

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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