Economy

The Associated Press has revealed that the current acting president of the National Assembly, Julio Borges, has sent more than a dozen letters to international banks urging them to boycott the national government.

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Economist Michael Hudson says that his views were deliberately misrepresented in a recent Bloomberg report on Venezuela. 

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4 years ago, in March of 2013, workers from the illegally closed Brahma beer factory, took over the installations of the plant located in Barquisimeto, in the state of Lara, Venezuela. After two years of resistance within the factory, the worker's organized with the Comuna José Pío Tamayo to create a communally owned company "Proletarios Uníos" where they have spent the last 2 years, building up a new structure of production and distribution together with popular power, that has put them in the vanguard in the struggle against the economic war and to build a new sovereign economy in the hands of the people.

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Among the measures is a revamped currency exchange mechanism as well as new executive orders to expand agriculture and mining.

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

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

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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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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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