The Citgo fire sale
Reuters is reporting that PDVSA wants to sell Citgo for $10 billion dollars – the equivalent of 8 months’ worth of the cost of the gasoline subsidy. “Investment bank Lazard...
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Fighting the war on fiction
The shakeup that wasn’t and its future consequences has been the main story in the last few days, but right underneath the radar was the latest development in...
Spinning the revolution
I had to do a double-take upon learning that PDVSA had hired Bell Pottinger, the PR firm run by Margaret Thatcher’s former communications director to “clean its image.” Of course, no...
An Election Fraud as Big as the Ritz
Last week, the government announced that addressing the country’s deep-seated economic distortions…just wasn’t something they were going to worry about. A few days have passed since the economic non-announcements...
Of grandmothers and bicycles
There’s a good reason why seasoned politicians are careful never to answer questions about hypotheticals. Trying to take positions about what you would do if something that isn’t currently...
Dime a quien no le defaulteas y te diré quien eres
Over on Project Syndicate, Ricardo Hausmann and Miguel Angel Santos have a fun riff on the state of the debate on whether Venezuela will go into default in the coming months....
Dude, Your Strategic Fund Has Less than a Week's Worth of Imports In It
For years – literally years – we’ve been wondering exactly how much money the Venezuelan government had squirrelled away in its “parafiscal funds”: Fonden- and Fondo Chino-style unaudited,...
Sacudón Chronicles: The Big Shakedown
So what do we take away from last night’s Sacudón? First, as Kanako put it to me, that Rafael Ramírez’s power turned out to be the political equivalent of the...
My kingdom for a passport
“You have to wait,” said the lady at the Embassy. “But I have been waiting, it’s been almost a month and my daughter’s passport expires in just a few...
Live-blogging the Sacudón
You may recall that a full two weeks ago, Nicolás Maduro’s entire cabinet resigned to allow the President to “reorganize it” as part of his quest to make government “more...
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