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Venezuela’s PDVSA Warns of Debt Payment "Difficulties"

PDVSA is the single largest source of income for the Venezuelan government, and oil sales accounting for well over 90 percent of

Venezuela’s state oil firm PDVSA has hinted it could begin defaulting on debt obligations as early as next week, amid concern over a failed overture to bondholders that fell flat Friday.

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Despite Profit Motive, US Banks and Markets Squeezing Venezuela's Economy

In the latest measure to cut off Venezuelan from international finance, Citibank announced it would no longer issue Venezuelan b

Pablo Vivanco inquires if international banks are colluding with the US government to deny credit to Venezuela like in Chile under Allende.

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Venezuelans Prefer Maduro to Opposition Administration, says New Poll

Venezuela’s beleaguered president, Nicolas Maduro, is still the number one option for more than 50% of Venezuelans. (Hinterlac

Analysts partly attribute the upswing in support for the president to his government's increasingly popular grassroots food distribution network, the CLAPs. 


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Venezuela’s Maduro Approves 2017 Budget, Deepens Tax Revolution

Maduro signed the budget on Friday after being given the go ahead by Venezuela’s Supreme Court. (Agencias)

73 percent of the budget will be invested in social spending, but the country’s opposition accuses the government of having bypassed constitutional norms to approve it. 


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Steve Ellner Part II: Is the Bolivarian Revolution a Populist Failure?

Steve Ellner addresses a forum in 2014 on Chavismo in Caracas, Venezuela. (Archive)

Universidad de Oriente Professor Steve Ellner discusses a range of key issues in Venezuela, including the efficacy of state social programs such as the CLAPs, the Maduro government’s controversial Mining Arc, and the role of international solidarity. 


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Steve Ellner: Democratization of PSUV is Key to Chavismo’s Future

Professor Steve Ellner. (Ángel Dejesús)

Distinguished Venezuelan history and politics professor Steve Ellner examines the current state of Venezuela's Bolivarian Revolution at the crossroads of a deep economic crisis and an opposition-led presidential recall effort. 

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Venezuela to Export 880 Tons of Shrimp to Europe and Asia

Shrimp (Archive: Pixabay)

Venezuela’s Minister for Fishing and Agriculture, Angel Belisario, announced that Venezuela would complete its second shipment of 880 tons of shrimp to markets in Europe and Asia this week.

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Venezuela to Freeze Oil Production under New OPEC Deal

Venezuela is heavily dependent on oil exports for foreign revenue. (Archive)

Venezuelan Oil Minister Eulogio del Pino confirmed Wednesday the world’s largest oil cartel, OPEC, has reached an agreement to freeze crude output between 32.5 and 33 million barrels per day.

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PDVSA Bonds Hit Two Year High Following Swap Proposal


PDVSA’s bonds rose to a two-year high Monday after the Venezuelan state oil company announced a deal to swap US $5.325 billion of its debt due next year for securities maturing in 2020.

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Venezuelan Supreme Court Extends Economic Emergency State of Exception

Venezuelan Supreme Court in downtown Caracas (teleSUR).

The high court renewed the Maduro administration's emergency powers with the aim of tackling the country's deep recession. 

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