MaduroEnElAire

What passes for “pragmatism”

This blog has been trying to follow the ongoing debate about where economic policy is headed under Rafael Ramírez. Today, for example, we eagerly awaited a presidential address where – we hoped – new measures would be announced. We were fools. Nothing of substance was announced. All Maduro said was that every company that had gotten…

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Rafael Ramírez’s Sky-high FAIL

Almost two months ago,while visiting Maracaibo, PDVSA President/Oil Minister/Economic Vice-President Rafael Ramírez tried to justify the drastic reduction of international commercial flights to Venezuela in recent months: “Aquí nadie se va de este país, las aerolíneas esas que andan yéndose están desviando aviones para el Mundial de fútbol. Pero no es que se estén yendo…

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Nothing is free

Our pal Setty has a thoroughly researched, hugely important story on a little footnote in the PDVSA financials. It turns out that, long ago, PDVSA seized some ships from one of its partners, and yadda yadda yadda, Venezuelans lost $644 million. In minute detail, Setty goes through the job of untangling this particular ball of yarn. The…