Venezuela’s opposition-controlled National Assembly has threatened not to pay US $2.8 billion in PDVSA bonds purchased by Goldman Sachs through a third party broker this week.
By Ryan Mallett-Outtrim – Venezuelanalysis.com , May 27th 2017
VA's Ryan Mallett-Outtrim weighs the potential pros and cons of Venezuela's latest currency exchange reform, arguing that only a free floating exchange rate will save the country's crisis-ridden economy.
Venezuela was set Thursday to hold its first currency auction under its newly reformed foreign exchange system, which the government says will be more transparent and effective than its predecessors.
Venezuelan President Nicolas Maduro announced an increase to the minimum wage Sunday, which he said would help to shield workers' from the effects of the economic crisis in the country.
The Venezuelan government announced plans Thursday to provide financial relief to more than 50 small stores and other businesses hit by vandalism and looting.
Senior management figure Marco Malavé (47) was charged with causing “irregularities” in the country’s domestic fuel market following widespread gas shortages last week.
Minister of Finance, Industry and Commerce Ramón Lobo confirmed in an interview this week that Venezuela will meet its debt payments for 2017 in light of this year’s rise in global oil prices.
