During Carlos Andrés Pérez’s first presidency, a law was passed so Venezuela could benefit the most from oil revenue. It was well thought out and, most importantly, well executed. It would change our relationship with our natural resources forever.
In Venezuela, those who should theoretically live in a magic bubble against the crisis, have stories of resistance. Here’s the case of a banker who hasn’t gotten hold of cash in a long, long time.
Maduro tried to clear the air through a Facebook Live broadcast, but he left us with even more questions and a clear understanding that the so-called recovery plan is nothing more than the same old 21st Century Socialism with a face-lift.
Big changes are coming and no one seems to understand how they will work. Wages will be anchored to an unexisting but centralized cryptocurrency, five zeros will be removed from the bolivar and fuel will have a new international price. What does it mean? We’re all in the dark, trying to guess.
In a bizarre, rambling address, President Maduro announced a genuinely weird, heterodox economic adjustment that left Venezuelans at a loss for words.
When Chávez took office in 1999, one dollar was worth 5.6 bolivars. 19 years later, the amount of zeros is so long, it’s confusing. Today, regrettably, we reach the one billion later benchmark.
What happens when you throw a Carlos in Caracas and ask him to pay for a taxi? Chaos, delays, inconveniences, slow data service and everything else caraqueños know to be true, with the extra paranoia that out-of-towners rightfully feel.
We can’t tell if the exchange controls are dead until we open the box. For now, it sounds more like the same old words they spew when they need money, than the end of controls over our own money.
The government’s plan is not to fight hyperinflation. They plan to fight cancer with a cup of tea. Maduro is eliminating 5 zeros instead of 3. I don’t get it either.
His team didn’t deliver on the promise of raising billions through an ICO.
We’ve been able to hang on for 22 years in one of the craziest media landscapes in the world. We’ve seen different media outlets in Venezuela (and abroad) closing shop, something we’re looking to avoid at all costs. Your collaboration goes a long way in helping us weather the storm.
Donate