Dollars Are Here to Stay, But Bolivars Aren't Going Away
The de facto dollarization is unstoppable, but the BCV won’t disappear and Venezuela will continue to use bolivars for certain things. Several countries in the region have taken that path.
Economy
Diesel Shortage Strangles Venezuelan Wholesalers
Venezuela’s fuel crisis is not just about gasoline. The diesel crisis is causing delays in supplies chains and boosting inflation. Armando Díaz dives into the causes and consequences
Heading to the Longest Hyperinflation in History
Venezuela surpassed fifty percent in monthly inflation rates in 2017 and it has gone over that number many times since. But for the last seven months the monthly price increase has been lower. If it continues this way, it could declare itself hyperinflation free in January 2022. Will it do it with elections coming up?
Play2Earn Games Spark NFT Fever in Venezuela
A video game tied to cryptocurrency pays good money to those who are patient enough to spend many hours on it. But, how reliable is this alternate source of income?
‘Economic Solutions Shouldn't Be Held to Who Gets the Political Win’
Carlos Fernández Gallardo, the new president of Venezuela’s federation of business chambers, explains how the approach to the government was brokered and insists that the private sector can solve many of the population’s most urgent problems
The Fantasy of a Functional Autocracy
Humiliation and submission, the government asks for nothing less from those who want to partake in a fantasy where they can carry on with business without being bothered. Watch out, it may be a scam
The Caracas Stock Exchange: an Investment Oasis or a Mirage?
During the first quarter of the year, the Caracas stock market grew by 81.3% compared to the same period in 2020. Let's see what's happening
A New Currency Redenomination Is Coming to Venezuela
The almost extinct bolívar is about to experience its third metamorphosis in 13 years. It's unavoidable but most likely useless
The Oil Pendulum and the Absent Questions About the Venezuelan Oil Industry
Chávez forced PDVSA back into a tight political control and statism. Now, Maduro’s trying to get the company on its feet again with the opposite approach. How far can he walk that path?
The Campaign to Protect Venezuelan Assets in the U.S.
NGO INRAV is working on convincing Congress to create a fund and freeze the Venezuelan resources obtained through corruption and embezzlement, using the VERDAD Act
Caracas Chronicles is 100% reader-supported.
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