VENEZUELA
Analysts
Ruth Krivoy
Former Central Bank President
Tamara Herrera
Former Advisor, Banking Industry AssociationDatabanks
Recent Country Insights
New single scenario given GL 44a
VENEZUELA · Report · 14 May 2024
For the remainder of 2024, we present a single scenario now, one that reflects General License 44a (GL 44A) and the current economic policy framework. Inflation in this scenario decelerates to 70 percent from last year’s 190 percent, and the exchange rate moves up 36 percent to close 2024 at 53.3...
Clearer picture, with high risks
VENEZUELA · Report · 29 Apr 2024
The majority opposition now has a unity candidate, but the path to the presidential election is strewn with obstacles, the final outcome uncertain. On April 19, just one day before the deadline, the Democratic Unitary Platform (Plataforma Unitaria Democrática, or PUD) with the support of all ...
Two signs of sanity
VENEZUELA · In Brief · 22 Apr 2024
On April 20, after four weeks of agonizing negotiations, the opposition agreed on a single candidate supported by all the Unitary Platform (PUD) parties one day before the deadline for modifying endorsements to be visible on the ballot. The candidate is Edmundo González Urrutia, registered by PUD...
GL 44a: Case-by-case flexibility, with opacity
VENEZUELA · In Brief · 21 Apr 2024 · 1 response
General License 44a (GL 44a), dated April 17, 2024, requires that oil and gas activities not expressly subject to General Licenses 41 (Chevron) and 8m (Halliburton, Schlumberger, Baker Hughes, and Weatherford) be granted special licenses by the US Treasury Department's Office of Foreign Assets Co...
Tax collections and weak demand held March inflation steady
VENEZUELA · Report · 15 Apr 2024
Inflation held steady at 1.2 percent in March. While, starting in the third week of March, bolivar depreciation against the dollar and a transportation fare hike pushed up on inflation, and monetary expansion caused by domestic public outlays expanded by 21 percent compared with 9 percent in Febr...
What could happen if GL 44 expires on April 18?
VENEZUELA · Report · 15 Apr 2024
The possible expiration of General License 44 (GL 44) generates uncertainty. Venezuela's oil production and exports have been increasing since 2022 under licenses 41 and 44 . Both allow selling oil in Venezuela's natural markets (the US and Europe) at better prices, with more efficient collectio...
A storm of uncertainties
VENEZUELA · Report · 08 Apr 2024
The government did not allow Machado's candidacy or Corina Yoris, her designated substitute. After the deadline for nominations had expired, the National Electoral Council (CNE) admitted the "symbolic" candidacy of Dr. Edmundo Gonzalez Urrutia, a retired diplomat with no party ties, under the car...
Machado names substitute candidate
VENEZUELA · Report · 25 Mar 2024
Maria Corina Machado waited till March 22, when the nomination period was already under way, to appoint Corina Yoris as her replacement candidate, stating that she embodies perfect opposition unity. During the press conference, Yoris had support from the parties grouped under the Unitary Platform...
Venezuela Webinar Replay: Assessing Risks and Opportunities
VENEZUELA · Report · 22 Mar 2024
Will General License 44 be renewed or reformed, or will it simply expire? What is the oil sector outlook? How is the opposition getting ready for the July presidential elections? How will the Essequibo conflict evolve in the coming months? Visit our calendar page to watch the replay of our webina...