Venezuela
The Covid crisis, central banks and the future
Crisis responses have had positive initial outcomes, but also exacerbated significant underlying challenges that raise concerns related to exit strategies and the future for central banks
London court blocks Venezuelan government from using gold
Lawyers for Maduro regime say they will appeal over access to $1 billion store
Venezuela sues Bank of England over refusal to release gold
Authorities say they need $1 billion to fund response to Covid-19 crisis
Debts, deficits, central banks and inflation
Forrest Capie and Geoffrey Wood ask what insights history can provide for central banks and governments managing abrupt, large increases in debt
Venezuela uses Bank of Spain to carry out international transfers
Maduro regime faces sanctions to prevent it accessing US financial system
Uribe details aggressive Flar expansion plans
The Latin American fund chief, José Darío Uribe, speaks about: Flar’s efforts to support macroeconomic and financial stability; exposure to Venezuela; and more
Venezuelan opposition nominates ad hoc central bank board
Legislature aims to prevent Maduro’s regime from accessing gold and foreign currency reserves
Venezuela introduces new banknotes as hyperinflation continues
New notes come less than a year after five zeroes were dropped from currency
Trinidad and Tobago prime minister ridicules central bank’s migrant figures
Acting PM says he has “no idea” how central bank estimated cost of migrant crisis
Venezuela’s central bank finally admits economic collapse
First official data release since 2015 says GDP fell by 22.5% in the year to the third quarter of 2018
Venezuela to adopt a more flexible exchange rate
Analysts say liberalisation and US sanctions on oil industry are likely to further boost inflation
US imposes sanctions on Venezuelan central bank
Trump administration attempts to close one of Maduro regime’s last sources of external financing
Maduro regime arrests two central bank workers
Officials detained after meeting with Venezuelan presidential challenger Juan Guaidó
Venezuela removes eight more tonnes of gold from central bank
Regime could exhaust gold reserves in 2019 if sales continue at current rate
Venezuela uses stealth to sell gold reserves – reports
Maduro regime allegedly removed 8 tonnes from central bank last week
US sanctions on Venezuela could be death knell for petro
Crypto asset is backed by oil reserves the country can barely commercialise
Venezuela to sell 15 tonnes of gold to UAE, reports say
US senator warns of sanctions if UAE co-operates with Maduro regime
Bank of England kept gold reserves from Venezuelan government, reports say
BoE declines to comment on reports as US government ramps up pressure on Maduro regime
The EU tries to rethink its faltering AML regime
The European Union plans to centralise its anti-money laundering efforts following a series of scandals this year. Dan Hardie looks at the options available and the multitude of challenges that remain
Venezuela says it will drop US dollar for euros
Maduro government’s plan cannot succeed, expert says
Juan José Echavarría on Colombia’s path to sounder monetary and economic policy
The governor of the Central Bank of Colombia talks about policy efforts to promote stability, the importance of independent institutions and the implications of Venezuela’s economic collapse
Colombian governor sceptical about Venezuelan petro
Juan José Echavarría reflects on collapse of neighbouring economy in interview with Central Banking
Venezuelan central bank launches app to aid currency reconversion
App allows members of the public to covert prices into the new “bolivar soberano”
Venezuela carries out massive devaluation with 'new bolivar'
Maduro pegs “new bolivar” to oil-backed cryptocurrency and unveils minimum wage hike