Venezuela
Banking regulator and c bank could merge-Venezuela
VENEZUELA - The administration of Venezuelan President Hugo Chavez might eliminate bank regulatory agency Sudeban and transfer its powers to the central bank, local daily El Nacional reported.
Venezuelan central bank rejects gov't criticism
VENEZUELA - The Central Bank of Venezuela (BCV) has said that it will continue its monetary policy despite criticism from the government and warned about the negative consequences a confrontation of positions would have on the exchange market.
Row rattles Venezuela's economic recovery effort
VENEZUELA - A bitter row among Venezuela's top economic policy makers on Tuesday threatened to scuttle attempts to revive the nation's flagging economy just weeks before a senior minister heads to the United States to rally financial backing.
Central bank reports Venezuelan economy shrinking
VENEZUELA - Venezuela's economy contracted 9.9 percent in the second quarter compared with a year earlier, as a slide in its vital oil production eroded growth, according to the central bank.
Venezuela widens fiscal deficit target to 3% GDP
VENEZUELA - Central bank chairman Domingo Maza Zavala has announced that the government has widened its 2002 fiscal deficit target to 3% of GDP from 2.7% due to lower than expected tax receipts.
Venezuela 'declares war' on speculators
VENEZUELA - Venezuela's president Hugo Chavez has declared a "war on speculators" as prices rose after last week's currency devaluation.
Venezuela c bank to start dollar auctions Monday
VENEZUELA - The Venezuelan Central Bank will start Monday with a daily auction of U.S. dollars to the currency market to guarantee supplies of dollars while the bolivar adapts to a new free-floating exchange system.
Venezuela's currency in freefall
VENEZUELA - Venezuela's currency has plummeted 25% against the US dollar after the government scrapped five-year-old exchange rate controls.
Venezuela's currency slides after floating
VENEZUELA - Venezuela's currency has fallen 3.9% to about 824 bolivars to the dollar after the government scrapped five-year old exchange rate controls.
Chavez appoints new head of state oil company
VENEZUELA - President Hugo Chavez on Saturday appointed a leftist central banker as head of state oil company Petroleos de Venezuela (PDVSA), a move that observers said sets the stage for foreign exchange controls and which will financially damage Latin…
Fears grow for Venezuelan currency
VENEZUELA - Venezuela's currency has renewed its slide, after support measures failed to stop investors, citizens and businesses converting cash into US dollars.
Venezuela's Chavez denies problems banking system
VENEZUELA - Venezuelan President Hugo Chavez Sunday declared the financial industry solid and healthy after rumours that Venezuela's largest private-sector bank, Banco Provincial, was about to be subjected to intervention by the central bank due to…
Is Chavez talking Venezuela into currency crisis?
VENEZUELA - Venezuela is enjoying high oil prices and one of Latin America's healthiest growth rates, but outspoken President Hugo Chavez may be literally talking his country into a currency crisis, economists said on Friday 7 Sep.
Venezuelan c bank stokes fears of capital controls
VENEZUELA - Venezuela's central bank is rolling out measures aimed at bolstering its currency and stemming the flow of dollars out of the country.
Venezuela Chamber asks court to fix cbank rates
A Venezuelan business chamber has filed an injunction in the supreme court demanding that it nullify a May 1999 agreement allowing banks to set interest rates on a case-by-case basis, local daily El Nacional reported on Mar 22, 2001.
Venezuelan cbank to introduce interbank ref rates
The Central Bank of Venezuela is planning to introduce a new electronic interbank trading system that should result in the creation of interbank rates of reference and greater efficiencies in interbank lending.
Venezuelan fin min-cbank won't fix interest rates
Venezuelan Finance Minister Jose Rojas reiterated Feb 13, 2001 that the central bank won't fix credit and deposit rates in the banking sector. "The central bank is not going to fix rates," Rojas said in a televised interview. In a nod toward the monetary…
Venezuela: Crawling pegged rate system retained
According to a Venezuela Online News web site on Jan. 17, the Central Bank of Venezeula (BCV) has indicated that it will maintain the band system in currency exchange in order to control the depreciation of the bolivar. The bolivar will thus remain…
Venezuela president sees fixed rate for bolivar
Venezuelan President Hugo Chavez predicted the country's currency, the bolivar, will be fixed against the dollar some time in the future, according to a report Dec 29 in local daily El Universal.
Venezuela slows depreciation rate of currency band
Venezuela's central bank said on Dec 21 2000 it would slow the depreciation of the central parity rate of the bolivar currency next year to 7.00 percent annually, from about 12 percent this year.
Castellanos views interest rates, currency band
Venezuela's central bank president Diego Luis Castellanos announced today that the institution would not impose controls over private banking interest rates.
Venezuela to slow bolivar depreciation in 2001
Venezuela's central bank will announce a slower depreciation rate of the bolivar currency and possibly a new central parity rate within the next two weeks, senior bank officials said Thursday.
Venezuela 'overdrive' plan still not in effect
Venezuelan President Hugo Chavez acknowledged Tuesday that a $2.1bn government spending plan he announced two months ago to spur economic growth had still not taken effect.
Venezuela cenbank director sees boom on horizon
Venezuela is "on the edge of an economic boom," predicts central bank director Armando Leon.