The Daily Journal — Acting President Delcy Rodríguez announced the launch of a direct financial assistance program for families directly affected by the June 24 earthquakes. “We have also decided to launch the financing program immediately, providing monthly assistance over the next six months to ensure a steady source of emergency income for those most […]
Continue Reading
The Daily Journal.— Consecomercio has presented a legislative proposal to support Venezuela’s reconstruction following the earthquakes that affected several regions of the country. The proposal also calls for financial mechanisms and coordinated action between the public and private sectors to address the emergency. In a statement, the business association said it submitted the draft Law […]
Continue Reading
The Daily Journal.— Venezuela’s acting president, Delcy Rodríguez, announced Thursday the creation of an initial fund worth $200 million to finance the reconstruction of areas affected by the June 24 earthquakes. She said the government expects to recover those resources through the International Monetary Fund. During a press conference with international media, Rodríguez explained that […]
Continue Reading
The Daily Journal. The Inter-American Development Bank Group (IDB Group) announced on Thursday a financial aid package of at least $1 million to support emergency operations in Venezuela after the powerful twin earthquakes that caused extensive damage along the country’s central coastline and in Caracas. The bank will provide the funding through non-reimbursable emergency technical […]
Continue Reading
By Diviana Márquez — In the dim light of a makeshift produce stand in Catia La Mar, a woman clutches a wrinkled $20 bill as though it were a shield. Around her, the coastline of La Guaira still breathes the dust of buildings that gave way just five days ago under the historic 7.2 and […]
Continue Reading
The Daily Journal — Economist Asdrúbal Oliveros has brought a sobering reality to the forefront, one that forces the country to look beyond the physical destruction and the undeniable human tragedy. The recent earthquake has carved a deep crack into Venezuela’s already fragile financial structure. According to the analyst’s preliminary estimates, the material losses are […]
Continue Reading
The Daily Journal. — The Development Bank of Latin America and the Caribbean (CAF) has announced the creation of the Venezuela Recovery and Reconstruction Fund, a trust designed to gather resources from multiple sectors and channel them toward addressing the crisis caused by the June 24 earthquakes. The initiative complements an earlier direct donation of […]
Continue Reading
The Daily Journal. — The U.S. Department of the Treasury issued a general license Thursday that temporarily authorizes transactions related to humanitarian relief efforts following the earthquake in Venezuela, partially easing restrictions under the country’s sanctions program. The Office of Foreign Assets Control (OFAC) issued General License No. 60, allowing “all transactions related to earthquake […]
Continue Reading
EFE — Venezuela’s oil sector development following the opening to foreign investment promoted by the United States will depend largely on political stability in the South American country, several economic experts told EFE on Monday after participating in a forum at the Andrés Bello Catholic University (UCAB). Economist Luis Zambrano Sequín argued that no one […]
Continue Reading
The Daily Journal — Venezuela is preparing to disclose public debt approaching $240 billion, a figure far higher than previous market estimates and one that would make the country the center of the largest sovereign debt restructuring in history, the British newspaper Financial Times reported on Wednesday. According to the financial newspaper, the administration led […]
Continue Reading
