Dollarization Archives - The Daily Journal

Venezuela presents IMF with economic roadmap centered on oil and mining

October 15, 2026October 15, 2026Tatiana Da GamaLeave a Comment

The Daily Journal.- Venezuela’s Vice President for Economic Affairs, Calixto Ortega, presented the country’s economic roadmap on Wednesday during a discussion in Bangkok on the sidelines of the International Monetary Fund (IMF) and World Bank annual meetings. The plan focuses on the oil and mining extractive industries. Ortega, a former president of the Central Bank […]

Ernesto Paraqueima proposes keeping oil royalties in producing states

September 29, 2026September 29, 2026Tatiana Da GamaLeave a Comment

The Daily Journal.- Former political prisoner and former mayor of the Simón Rodríguez municipality in Anzoátegui state, Ernesto Paraqueima, proposed that royalties from oil production in Venezuela should remain in producing states and advocated for greater decentralization of resources as part of a proposal aimed at moving toward a federal model. “Royalties from oil production […]

National Academy of Economic Sciences warns of dollarization costs and proposes multi-currency regime

September 12, 2026September 12, 2026Tatiana Da GamaLeave a Comment

The Daily Journal.- The National Academy of Economic Sciences (ANCE) warned that full and formal dollarization of the Venezuelan economy could quickly curb inflation but would significantly limit the country’s economic policy tools. Instead, it proposed establishing a multi-currency or dual-currency regime. In a document released amid debate over officially adopting the U.S. dollar as […]

Dollar crossing 800 bolivars deepens erosion of Venezuelans’ income

September 3, 2026September 3, 2026Tatiana Da GamaLeave a Comment

The Daily Journal – The official exchange rate broke the 800-bolivar-per-dollar barrier on Wednesday, September 2, reaching Bs. 801.18, according to the rate published by the Central Bank of Venezuela (BCV). The U.S. dollar rose by 2.86 bolivars (0.36%) in a single day after closing Tuesday, September 1, at 798.32 bolivars. The euro also climbed […]

Dollarize without balancing the value of wages?

August 27, 2026August 27, 2026Tatiana Da GamaLeave a Comment

Juan Barreto, Director of The Daily Journal for Venezuela and Latin America In recent days, there has been much talk about dollarization. Congressman Antonio Ecarri put forward this proposal, prompting a strong reaction from National Assembly President Jorge Rodríguez. Dollarization is a policy that very few countries have adopted. As you know, there are 192 […]

Dollar surpasses 600 bolivars, deepening the erosion of venezuelan families’ purchasing power

June 19, 2026June 19, 2026Tatiana Da GamaLeave a Comment

The Venezuelan currency has lost half of its value against the U.S. dollar so far in 2026, while cumulative inflation has climbed above 100% and wages remain frozen. By Neirlay Andrade Venezuela’s official exchange rate crossed the 600-bolivar threshold on Thursday, marking a milestone that threatens to accelerate the erosion of purchasing power for millions […]

The two sides of the coin: Pros and Cons of dollarization in Venezuela

June 17, 2026June 17, 2026Tatiana Da GamaLeave a Comment

The debate over formal dollarization in Venezuela continues to divide public opinion as the country struggles with exchange-rate instability and the constant erosion of purchasing power. Economist Manuel Sutherland examines the issue critically, weighing the benefits and costs of abandoning the national currency. Neirlay Andrade The grassroots demand: Why do labor unions want the dollar? […]