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Exchange rate

Venezuela Authorizes Tourism Industry to Charge in Dollars, Avior Expands Air-fleet

Venetur Hotel. (archive)

The Venezuelan government authorized the tourism industry to charge in dollars provided they sell 60% of their earnings to the Central Bank at the floating exchange rate. 

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Venezuelan Black Market Rate Surges to Over 1500 Bolivars per Dollar

Venezuela's parallel dollar has been on the rise in recent weeks. (Archive)

The latest depreciation of the bolivar is as much political as it is economic, says sociologist Gregory Wilpert. 

 

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Venezuela's Economic Crisis: Does It Mean That the Left Has Failed?

A woman shakes a bag of corn flour, shouting "Why is it so difficult for me to buy this?" as hundreds of people wait i

Unifying Venezuela's multiple exchange rates is not "neoliberal", argues Mark Weisbrot. It's the only solution to the country's deep crisis. 

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Venezuelan Tourism Industry to Charge in Dollars

Playa el Agua beach on the tourist hotspot of Margarita Island, Venezuela (Mintur)

Foreign travellers visiting the South American country will be charged in US dollars for tourism services, including in travel agencies and accommodation in 4 star and state approved hotels. They will also be able to buy national currency directly from tourism providers.

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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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Economic Policy Could Determine the Political Results in Venezuela

Venezuelan President Nicolas Maduro's possibilities for staying in power may depend on whether or not his government takes

Economist Mark Weisbrot argues that fixing Venezuela's broken currency exchange system may be the only way for the Maduro government to regain popularity and stay in power amid a right-wing offensive. 

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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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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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4 Steps To Fix Venezuela’s Economy

(Anadolu Agency / Getty Images)

Acclaimed economist Mark Weisbrot outlines a string of measures to resolve Venezuela's economic crisis, including instituting direct subsidies to poor and working class families, eliminating exchange and price controls, and diversifying the economy. 

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Venezuela’s Maduro Announces String of Emergency Economic Measures

Venezuelan President Nicolas Maduro addressing the nation. (@PresidencialVen)

The economic initiatives include changes to the country’s multi-tiered exchange rate, a rise in the domestic price of gasoline, the implementation of a new tax system, and placing more power over food distribution in the hands of organised communities.

 

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