The Political Economy of Gas Smuggling
Caracas-based economist Asdrubal Oliveros recently estimated 130,000 barrels of gasoline are now smuggled across the border to Colombia each and every day. That’s a big number. How big?...
Vas al Cielo y Vas Llorando Chronicles
Not three weeks ago, Venezuela scored a big win over ExxonMobil, when the long-running saga over International Arbitration following Chávez’s 2006 expropriation of their extra-heavy oil upgrader in the...
Tyzsgasm
OMG OMG OMG look what’s in Alberto Barrera Tyzska’s column this week. Yo a veces quisiera ser Anabella Abadí. Esta semana, por ejemplo. Hubiera sido ideal ser como...
Africa? We wish!
I keep promising Juan I’ll stop boring readers with these bond stories, but then I can’t resist. Check out today’s New York Times story on the superhot market for...
Fifty Shades of Default
Until a few weeks ago, I thought default was like pregnancy: you either are or you aren’t. Instead, 2014 is turning into an education on the grey area between...
$12,000,000,000 in the Hole (and Digging)
Bank of America today estimates that, if oil prices stabilize at the level they’ve already fallen to, Venezuela will have to find an extra $12 billion in foreign financing to...
A Time for Fireflies
This is the text of Laura Weffer’s speech last night on receiving the Cabot Prizes’ special commendation for her investigative reporting alongside Tamoa Calzadilla. I wouldn’t dream of trying...
R&R: It Gets Worse
So I already blew one gasket over Reinhart and Rogoff’s Project Syndicate piece, and now the time has come to blow the other. Turns out Francisco Rodríguez over...
Robert Serra's safe was hidden behind a portrait of Chávez
How perfect a detail is that? Sandra Guerrero has lots more where that came from over in El Nacional – all of it, I’m afraid, anonymously sourced. Serra, it now appears,...
Of Default and "Default"
Consider “default”. It’s a tricky one: both an ordinary English word and a term of art with a specific, legal definition in the field of finance. There’s a reason why this ordinary word is...
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