Venezuela
Venezuela will give oil reserves to central bank and slash zeroes from currency
Central bank will have control of basin with 29 billion barrels of oil, president says
Central Bank of Venezuela gets another new president
Ramón Lobo becomes latest victim of institution’s revolving door
Venezuelan public invited to invest in national crypto asset
President Maduro announces public will be able to invest in ‘petro’ as well as gold; $1 billion from the proceeds of first petro auction to go to the central bank
Central bank data shows Venezuela is in ‘stealth default’
Debt repayments have rapidly decreased since October 2017, data shows; reports suggest Goldman Sachs has been paid
Venezuela pays off $2.1 million debt to Chile
Struggling Latin American country honours debt repayments under Reciprocal Payments and Credit Agreement, after missing payment in 2017
Measuring Venezuela’s hyperinflation
Steve Hanke discusses how economists can make use of high-frequency exchange rate data to track rapid price movements in Venezuela
Venezuela to launch cryptocurrency as cash crisis continues
New cryptocurrency will be backed by Venezuela’s oil reserves and other raw materials; new ‘blockchain observatory’ has responsibility for oversight
Venezuelan crisis deepens; rating agencies declare default
Russia agrees to restructure $3.15 billion to facilitate repayments to creditors
Venezuela launches new higher-denomination banknote
Banknote worth $2.50 enters circulation as estimated inflation exceeds 2,500%
Venezuela replaces governor after less than two months in office
Constituent assembly appoints MP as economy battles hyperinflation and economic collapse
Venezuela’s central bank devalues bolivar as crisis continues
Bolivar devalued 64% in latest currency auction in an attempt to stem effects of financial crisis; Goldman Sachs comes under fire from opposition leader
How Venezuela can stop hyperinflation – now
Redenominating the currency will only prolong the pain, says Steve Hanke. More drastic measures are needed
Delayed banknotes arrive in Venezuela
Thirty billion bolivars of notes finally shipped from Sweden, says central bank director; further denominations expected by the end of the month
Venezuelan president replaces central bank governor
Serving governor asked to resign, local reports say; new governor is strong political supporter of president
Venezuela’s Maduro backtracks on bolivar withdrawal
Venezuelan currency crisis continues with delay of new series and re-integration of 100 bolivar note, as president blames “international sabotage”
Venezuela removes largest banknote amid contraband concerns
Government authorises removal of 100 bolivar bill to combat “mafias”; nation also closes border with Colombia amid “economic war”
Venezuela central bank launches new banknotes amid soaring inflation
The bolivar has weakened to unprecedented levels as inflation soars and political instability engulfs the nation; new note series’ highest denomination is 200 times larger than current highest
IMF paper offers alternative explanation for Venezuelan inflation
Working paper argues fall in oil prices combined with restrictions in foreign exchange best explains hyperinflation in Venezuela, rather than a self-reinforcing rise in expectations
Venezuela revamps foreign exchange regime
Government moves to exchange rate system, offering an official and floating rate to market participants; second sets of changes in as many years
People: Haitian ex-governor appointed prime minister; Egyptian ex-governor rejoins largest bank
Ex-governor becomes interim premier amid severe political instability; Egyptian ex-governor returns to country’s largest commercial bank; Venezuelan central bank appoints new director
Observers cast doubt on first Venezuelan inflation figures in a year
Central bank report puts annual inflation at 141% at end of September, after a year without publishing the data; some consider the figure to be too conservative
Venezuelan president cuts congress out of key central bank matters
President ‘shields’ central bank from opposition interference, according to one observer, with changes effective on eve of national assembly meeting
Venezuelan central bank sues US data website
Central bank accuses black market data website of artificially raising the rate of inflation in the country
Venezuelan inflation still running at over 700%, expert says
Venezuela’s central bank appears to be unable to make any impact on soaring inflation levels and has not reported an inflation number this year, says Steve Hanke