Since last year, short-end Venny bonds have been possibly the one asset class worldwide that can more than double the worth of your portfolio in a year — aside from cocaine. That can't last, obvs, but man has the ride been sweet.
Don't be fooled by talk of 'repo' deals, Venezuela is pawning assets in international credit markets for pennies on the dollar on genuinely horrendous terms.
Nothing you learn in Business School will prepare you for interpreting the whirlwind of bad news PDVSA has been facing this year.
Investors in Venezuelan debt were already nervous over the upcoming April 12th maturity. The TSJ power grab sent them into panic-selling mode and set the stage for a weekend of uncertainty.
Mansion's Bakery, blocks away from Miraflores, is the latest casualty in the government's war on bread. It's also proof that people do go out and protest, until repression arrives, of course.
Venezuela is no longer helping out the gringos brave the winter months with subsidized heating oil. Perhaps we can send them expired foodstuffs instead?
Quico argues that it was morally wrong to lead the UNASUR economic policy mission to Venezuela. I believe it would have been morally wrong not to do so.
No Venezuelan economist comes close to stirring the passions FRod does. We work through the reasons why, teasing out the silly from the serious, and the merely serious from the absolutely unacceptable.
There are more chavistas controlling, restricting, overseeing and threatening other people’s productive work than there are chavistas actually working and producing themselves.
Oil-for-loans was supposed to be a win-win proposition. New numbers confirm our fears that it’s turned into a lose-lose nightmare.
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.
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