Daily Comment 25MAY2017

May 25, 2017gquiroga

Venezuela: – During a televised press conference, the top Public Prosecutor Luisa Ortega Diaz addressed several events regarding the wave of protests in Venezuela. In detail, the prosecutor denounced the possession of arms by the population despite the current ban

Daily Comment 24MAY2017

May 24, 2017gquiroga

Venezuela – Finance Minister Ramon Lobo and the Executive Board of the Central Bank of Venezuela (BCV in Spanish) announced the start of operations of the new FX system DICOM. The system will work through two weekly auctions (the first

Daily Comment 23MAY2017

May 23, 2017gquiroga

Venezuela: – For today, the new FX scheme, DICOM, is set to begin operations, and yesterday the Minister of Foreign Trade and International Investment, Jesus Faria, assured that the main goal is to reduce the impact of the parallel dollar

Daily Comment 19MAY2017

May 19, 2017gquiroga

Venezuela: – The US Treasury Secretary, Steven Mnuchin, told the Senate yesterday that regulators would review Rosneft’s stake of Citgo Petroleum Corp., this as concerns have emerged over possible control from the Russian company in case that PDVSA fails to

Daily Comment 18MAY2017

May 19, 2017gquiroga

Venezuela: – President Maduro extended for the seventh time the Decree of State of Exception and Economic Emergency through the extraordinary Gazette No. 6,298 dated May 13, amid a scenario of extraordinary circumstances in the social, economic and political fronts.

Daily Comment 17MAY2017

May 17, 2017gquiroga

Venezuela – President Nicolas Maduro appointed the new head of the Central Bank after his weekly Cabinet meeting. Pedro Maldonado will be in charge of the monetary institution and his first task will be to launch the new FX system,

Daily Comment 16MAY2017

May 16, 2017gquiroga

Venezuela: – Over 40 days have gone by since the opposition initiated street demonstrations and with a new agenda set for this week, it all points out that the call to resist the government with peaceful demonstrations will continue. The

Daily Comment 12MAY2017

May 12, 2017gquiroga

Venezuela: – Yesterday the National Assembly released its estimation for April CPI, which stood at 16.5% and makes the YTD inflation 92.8%. In this regards, this would account for almost a doubling of prices in Venezuela while setting the basis

Daily Comment 11MAY2017

May 11, 2017gquiroga

Venezuela – Petroleos de Venezuela, SA signed a new agreement with the military supply Company Camimpeg to increase oil production in the Urdaneta field of the Maracaibo Lake. According to a press release by PDVSA, the agreement will allow the

  • Thursday, May 25 2017
    Venezuela:

    - During a televised press conference, the top Public Prosecutor Luisa Ortega Diaz addressed several events regarding the wave of protests in Venezuela. In detail, the prosecutor denounced the possession of arms by the population despite the current ban by the Ministry of Interior, the performance of state security forces and military trials of civilians. One of the statements with greatest impact referred to the cause of death of a young opposition demonstrator product of a metal projectile fired by an official of the Bolivarian

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  • Wednesday, May 24 2017
    Venezuela

    - Finance Minister Ramon Lobo and the Executive Board of the Central Bank of Venezuela (BCV in Spanish) announced the start of operations of the new FX system DICOM. The system will work through two weekly auctions (the first one will take place tomorrow) and a bands’ system where the FX rate will fluctuate – the starting rate has not been announced yet. The official rate will be the lowest offered by those who are adjudicated, but a “contingent” auction will take place in case that such rate exceeds the upper band establis

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  • Tuesday, May 23 2017
    Venezuela:

    - For today, the new FX scheme, DICOM, is set to begin operations, and yesterday the Minister of Foreign Trade and International Investment, Jesus Faria, assured that the main goal is to reduce the impact of the parallel dollar and to increase the assignment of currency for business. It is expected that today further details of the mechanism will be disclosed from the facilities of the Central Bank of Venezuela (BCV for its words in Spanish), so stay tuned for more.

    Argentina:

    - The US Treasury Secretary, Steven Mnuchin, told the Senate yesterday that regulators would review Rosneft’s stake of Citgo Petroleum Corp., this as concerns have emerged over possible control from the Russian company in case that PDVSA fails to make payments on the bonds guaranteed by Citgo’s collateral. Senators raised their concerns – regarding Rosneft’s “control of a major US energy supplier” – on what they consider a national security matter to Mnuchin, who heads the Committee on Foreign Investment in the Unite

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