nicolas maduro

  1. Goldman Faces Venezuela Probe, Protest After Bond Purchase

    Goldman Faces Venezuela Probe, Protest After Bond Purchase
    Goldman Sachs Group Inc. faces a probe by Venezuela’s opposition leaders after buying bonds issued in 2014 by the state oil company, a purchase some lawmakers said bolsters President Nicolas Maduro as he grapples with accusations of human-rights violations. The South American nation’s legislature vowed to launch an investigation into whether the investment by Goldman Sachs’s asset-management arm broke any laws...
  2. Maduro Urges "I'm No Mussolini" As Venezuela Drifts Towards Civil War

    Maduro Urges "I'm No Mussolini" As Venezuela Drifts Towards Civil War
    “I am no Mussolini,” Venezuela’s beleaguered President Nicolas Maduro insisted on television early this month. But if things go on this way, he could end up like Mussolini. That would be very unfortunate for him and also for Venezuela. The daily street protests against Maduro’s rule are in their second month, and around 40 people have already been killed, most of them by the...
  3. Did Citi Just Confiscate $1 Billion in Venezuela Gold?

    Did Citi Just Confiscate $1 Billion in Venezuela Gold?
    Just over a year ago, cash-strapped Venezuela quietly conducted a little-noticed gold-for-cash swap with Citigroup as part of which Maduro converted part of his nation's gold reserves into at least $1 billion in cash through a swap with Citibank. As Reuters reported then, the deal would make more foreign currency available to President Nicolas Maduro's socialist government as the OPEC nation...
  4. Maduro Preparing to Swap Venezuela's Gold for Dollars

    Maduro Preparing to Swap Venezuela's Gold for Dollars
    It was almost exactly two years ago when a cash-strapped Venezuela quietly conducted its first, little-noticed gold-for-cash swap with Citigroup, as part of which Maduro converted part of his nation's gold reserves into at least $1 billion in cash courtesy of the US bank. As Reuters reported then, the motive was simple: convert $1 billion of the country's gold into much needed dollars...
  5. Venezuela's Money Supply Soars By A Record 200%

    Venezuela's Money Supply Soars By A Record 200%
    Two weeks ago, Reuters reported that due to "unexplained" reasons, the Venezuela central bank had stopped publishing its M2, or money supply, data.  The M2 money supply was up by nearly 180% in mid-February from a year earlier, according to the central bank before it halted the release of the weekly data without explanation in February. "If they are not publishing, you...
  6. Venezuela's Fuel Shortage Is Getting Worse

    Venezuela's Fuel Shortage Is Getting Worse
    Venezuela’s state oil company was rushing to replenish gasoline supplies in various neighborhoods of Caracas on Thursday as drivers lined up at filling stations amid a worsening shortage of fuel. While Petroleos de Venezuela SA says the situation is normalizing and blamed the lines on transport delays, the opposition says the company has had to reduce costly fuel imports as...
  7. Venezuela Stops Publishing Money Supply Data for Obvious Reasons

    Venezuela Stops Publishing Money Supply Data for Obvious Reasons
    More than a year after hyperinflating banana republic Venezuela stopped reporting official inflation data, Venezuela has stopped publishing money supply data, depriving the general public of the last, and best, available tool to ascertain soaring inflation in what has become the world's worst-performing economy. Then again, one hardly needs official data to confirm the blistering wave of hyperinflation sweeping through...
  8. Bitcoin ‘mining’ is big business in Venezuela, but the government wants to shut it down

    Bitcoin ‘mining’ is big business in Venezuela, but the government wants to shut it down
    CARACAS, Venezuela — Venezuela has become widely known as an economic basket case in recent years. But with its cheap electricity and volatile national currency, the country has at least one competitive advantage: It’s a good place to make the digital cash known as bitcoin. Bitcoins are increasingly accepted online for buying real-world goods and services. And, unlike the Venezuelan bolivar...
  9. Congratulations Bolivarian Socialists, Venezuela Caught Up With North Korea

    Congratulations Bolivarian Socialists, Venezuela Caught Up With North Korea
    Venezuelan socialists finally did it. They helped Venezuela catch up with North Korea in economic freedom, that is. That’s according to the recent 2017 Index of Economic Freedom ranking, which places Venezuela in 179th position -- next to North Korea, which occupies the 180th. Published by the Heritage Foundation, the Economic Freedom report measures such things as trade freedom, business freedom, investment freedom, and...
  10. It was once the richest country in Latin America. Now it’s falling apart

    It was once the richest country in Latin America. Now it’s falling apart
    In Venezuela the food lines are only the most visible evidence of a nation in free fall. Known as las colas, the lines form before dawn and last until nightfall, several bodies thick and zigzagging for miles in leafy middle-class neighborhoods and ragged slums alike. In a country that sits atop the world’s largest known petroleum reserves, hungry citizens wait...

Items 1 to 10 of 11 total

Page