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Maduro’s End Would Be Just the Beginning of Venezuela’s Road to Recovery

The timing of any power transition in Venezuela, however, will depend on closed-door negotiations between the opposition and key armed forces commanders. For a transition to come quickly and relatively painlessly, it will need to gain the support of most regional and national military...

Insight: How Venezuela turns its useless banknotes into gold

(Reuters) With the country’s economy in meltdown, an estimated 300,000 fortune hunters have descended on this mineral-rich jungle area to earn a living pulling gold-flecked earth from makeshift mines. Their picks and shovels are helping to prop up the leftist government of President Nicolas Maduro....

Maduro Closes Venezuela Embassy and Consulates In United States

Venezuelan president Nicolas Maduro announced the decision to close the embassy and all consulates in the United States and recalled all diplomats home. Nicolas Maduro on Thursday, January 24, during a session as head of Constitutional State at the Opening of the Judicial Year 2019 “I...

How US-Venezuela Escalation Unfolded From Sanctions to Backing Anti-Maduro Coup

On Wednesday, the Trump administration officially recognized opposition leader Juan Guaido as the ‘legitimate’ president of Venezuela and dismissed Nicolas Maduro’s inauguration. Maduro, on the other hand, hit back, saying that the U.S. has been trying to oust him and were planning a military...

Venezuelan Gov’t Takes Over Goodyear Plant After Company’s Withdrawal – Reports

Venezuelan authorities have announced the immediate introduction of government control over the plant of the US-based Goodyear tire manufacturing company, located in the country’s northern Carabobo state, local media reported, citing the Labor Ministry’s order published in Gaceta Oficial newspaper. The document stipulated that the...

Maduro Doesn’t Care That People Call Him a ‘Dictator’

Venezuelan President Nicolas Maduro said on Wednesday that he was not a ‘dictator,’ but a ‘modest man’. © REUTERS / Miraflores Palace “I don’t care that people call me a dictator. Those who say I’m a dictator can go to hell. I know who I am...

Venezuela Ditches the Greenback, Switches to Euros and Yuan: Consequences?

Venezuela will switch to international payments in euros or yuan, while the US dollar will cease to be the base currency amid the financial blockade imposed on the country by the administration of US President Donald Trump. The decision announced by Economy Vice President Tareck...

More than half a million Venezuelans fled to Ecuador this year, UN says

More than half a million Venezuelans have crossed into Ecuador this year as part of one of the largest mass migrations in Latin American history, the United Nations said on Friday. More than half a million Venezuelans have sought refuge in Ecuador to escape crime...

Venezuela’s Maduro gets support from Erdogan, Maradona ahead of vote

CARACAS/BARQUISIMETO, Venezuela (Reuters) – Venezuela’s diplomatically isolated president got a show of support from his Turkish counterpart Tayyip Erdogan and Argentine soccer legend Diego Maradona on Thursday ahead of a weekend election widely decried as unfair. Venezuela’s President Nicolas Maduro and his wife Cilia Flores...

Nearly Half of Venezuelans Expected to Vote for Maduro in Election – Poll

Nearly half of Venezuelan citizens intend to back incumbent President Nicolas Maduro in the upcoming presidential election, according to a poll published Monday. The poll, conducted by the Hinterlaces and released by the Prensa Latina news agency, showed that 48 percent of respondents planned to...

Maduro creates Venezuela’s first Petro special economic zone

Venezuela’s Margarita Island will be the country’s first special economic zone (SEZ) to use the national cryptocurrency, the Petro, President Nicolas Maduro said on Thursday. Margarita Island, Venezuela’s Caribbean holiday island will be the country’s first special economic zone Maduro said he signed a presidential decree...

Venezuela Pushes Forward in Corruption Purge, Arrests 11 Bankers

Venezuelan authorities arrested 11 high-ranking bankers from the country’s biggest private financial institution, Banesco, and would “intervene in the institution”for 90 days in an effort to stamp out illegal banking practices. Venezuelan Attorney General Tarek William Saab made the announcement in a TV broadcast Thursday,...

Venezuelan Parliament approves trial against Nicolás Maduro: What’s Next?

The Venezuelan National Assembly approved preliminary impeachment proceedings against Nicolás Maduro with 105 votes in favor (and 2 against), citing enough evidence linking him to acts of corruption regarding the Odebrecht scandal. Although this is a step forward in the struggle against the dictatorship, there...

UN Human Rights Council Condemns Sanctions Against Venezuela

The United Nations Human Rights Council (OHCHR ) has adopted a resolution proposed by the Movement of Non-Aligned Countries (NAM) condemning economic sanctions against Venezuela by the United States, Canada, the European Union and their allies. The United Nations Human Rights Council has adopted a resolution...

Inflation-Hit Venezuela Introduces New Highest-Denomination Banknote

Venezuela will put on Wednesday a new highest-denomination 100,000 bolivar bill worth only US$0.50 into circulation, the country’s Communication and Information Ministry said. The introduction of a new banknote takes place amid the out-of-control inflation in the country, which led to a severe cash shortage. In 2016, a 100-bolivar...

For Poor Venezuelans, a Box of Food May Sway Vote for Maduro

CARACAS — A bag of rice on a hungry family’s kitchen table could be the key to Nicolas Maduro retaining the support of poor Venezuelans in May’s presidential election. The contents of a CLAP box, a Venezuelan government handout of basic food supplies, is pictured...

Maduro Announces Pensions Fund Increase, Additional Food Cards – Reports

Venezuelan President Nicolas Maduro has announced an expansion of pension fund and a delivery of additional food shopping cards to the population, the TeleSur reported. Maduro announced 200,000 additional pensions and the delivery of 3 million cards, the TeleSur broadcaster reported on Wednesday. The Venezuelan president...

Venezuelan Secret Police: The key to Maduro’s oppressive hold on power

Tyrannical regimes generally employ repressive domestic intelligence directorates to keep the opposition at bay. In Venezuela, the Bolivarian National Intelligence Service (Servicio Bolivariano de Inteligencia Nacional — SEBIN), under the jurisdiction of the Ministry of Popular Power for the Interior, Justice and Peace, is President Nicolás...

Over half a million Venezuelans fled to Colombia

More than half a million Venezuelans have taken refuge in Colombia to escape the crippling economic crisis in their country, Colombia Immigration (Migración Colombia) said on Friday. Authorities said 550,000 Venezuelans entered the country in 2017, an increase of 62 percent in the last year. Venezuela’s...

Gourmet Chocolate Becomes Economic Lifeline in Venezuela

Caracas (VOA) – In a modest apartment near a Caracas slum, nutrition professor Nancy Silva and four aids spread rich, dark Venezuelan cocoa on a stone counter to make chocolate bars to be sold in local shops that cater to the crisis-hit country’s dwindling...

Venezuela’s Economic Woes Forces Women Into Prostitution to Feed Children

A three-story hotel in western Caracas has become home to a 50-year-old prostitute, Juana, who, along with her 30-year-old daughter, works in a brothel in the Venezuelan capital. Sputnik Mundo found out how prostitution helped both women survive the economic crisis that has gripped...

New Monthly Minimum Wage in Venezuela Barely Enough to Buy Daily Cup of Coffee

Venezuelan President Nicolás Maduro announced a new increase in the minimum wage this year, but it’s only worth enough to purchase one a cup of coffee per day. The new wage amounts to a daily income of 26,583 bolivars (US $0.26), which barely covers a...

Venezuelan Dictatorship Considers Breaking Economic Ties with Caribbean Islands, Colombian Cities

Nícolas Maduro’s regime is threatening to suspend all communication and trade with neighboring Caribbean countries such as Aruba, Curaçao, Bonaire — as well as the Colombian border regions of Cúcuta and Maicao — due to supposed organized crime that is, he said, “tearing (Venezuela)...

Fuerza Venezuela, Colombia Loves You!

We all know the difficult times that are happening in Venezuela. A civil war is one of the definitions for the daily situation that exists in Venezuela, where getting a job is difficult, insecurity in some cities is a challenge, and mainly the exodus...

How Venezuela Became a Communist Totalitarian State

When Hugo Chávez was running in his first successful presidential campaign, back in 1998, he was asked point blank in several television interviews whether or not he was a communist. icolás Maduro has replaced Venezuela’s Congress with the illegitimate National Constituent Assembly controlled by the...

Venezuela’s Cryptocurrency, the Petro, to Be Backed by Oil Reserves – Maduro

Having financial problems, create you a new currency, the “Petro”. Venezuelan President Nicolas Maduro promised on Tuesday to certify the new Petro cryptocurrency in the near future, which will be backed by the country’s oil reserves. Venezuela’s President Nicolas Maduro speaks during his weekly radio...

Venezuela’s Health Crisis: 40 Percent of New Medical Graduates Have Already Left

The crisis in Venezuela is worsening and with it, has come a massive migration of talented professionals who decide to leave their homeland in search of quality of life. The National Survey of Physicians and Medical Students 2017 revealed that almost 40% of the...

Venezuela Running Out of Fuel for Air Travel, Leaked Memo Reveals

A newly released memo from Venezuela’s state-owned oil company, PDVSA, reveals the country lacks enough fuel to meet the demands of all aircrafts currently in operation. A memo sent by a PDVSA official to the Bolivariana de Aeropuertos and National Institute of Civil Aeronautics on...

Rights Group Accuses Venezuela of ‘Systematic’ Torture of Political Opponents

Human Rights Watch has released a 62-page report, “Crackdown on Dissent: Brutality, Torture, and Political Persecution in Venezuela,” that accuses Caracas of severe human rights violations against anti-government protesters and political opponents. The report was compiled in collaboration with Penal Forum, a Venezuelan human...

Russia Agrees to Wait for Venezuela Debt

Venezuela signed a deal in Moscow on Wednesday, November 15, about restructuring US$3.15 billion of debt to the Russian government. Venezuela’s economy has been hit by tumbling oil prices and US sanctions. Russia and China are Venezuela’s biggest creditors with total liabilities of around US$8...

Nobody is going to bail out Venezuela

Venezuela, the South American country convulsed by economic and humanitarian catastrophe, has defaulted on some of its debt after missing an interest payment due in October. A follower of President Nicolas Maduro runs past a line of soldiers in Caracas, Venezuela, Saturday, Aug. 26, 2017....

Under Socialism 60% of Venezuelan Businesses Have Closed

During the last five years of “socialism” in Venezuela, 60% of its businesses have closed, in the wake of the serious economic crisis and the draconian controls imposed by the Nicolás Maduro regime. Under the socialist yoke of Chavez and Maduro, Venezuelan entrepreneurs have suffered...

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