Mayela Armas

Venezuela puts state food firms in private hands as socialist policies recede

Sep 13 2021

CARACAS Venezuela's government is allowing private firms to run at least 13 food companies that were nationalized a decade ago, according to a dozen people familiar with the situation, an effort meant to improve operations that suffered under state management.

Analysis-Venezuela sees refinery debt swap as model for future deals

Aug 25 2021

CARACAS Venezuela's socialist government sees the swap it made last week of shares in a Dominican oil refinery for defaulted bonds as a possible model for future deals, as it seeks to mend ties with creditors, four people familiar with the operation said.

Venezuela dollarization has allowed for some growth in commerce - group says

Aug 12 2021

CARACAS, Aug 12 Venezuela's partial dollarization has allowed for tenuous growth in commerce and services but is not enough to ensure recovery from years of hyperinflation, the president of business chamber Fedecamaras said in an interview.

Citgo should be run by an independent trust, Venezuela opposition figure says

Jul 29 2021

CARACAS Venezuela's opposition should hand over U.S. refiner Citgo and other overseas assets that it controls to an independent trust until President Nicolas Maduro leaves power, senior opposition politician Julio Borges said in an interview this week.

Exclusive-Talks between Venezuelan gov't, opposition set for August -sources

Jul 08 2021

Representatives of Venezuela's government and opposition are set to meet in Mexico beginning in August for a new round of negotiations aimed at ending the South American country's deep political crisis, five people familiar with the matter said.

Venezuela, under sanctions, asks local banks to make vaccine payments

Jun 21 2021

CARACAS With its access to the global financial system restricted by U.S. sanctions, Venezuela managed to make some payments for the country's coronavirus vaccines by asking a handful of private local banks to pay on the government's behalf, two sources familiar with the matter said.

Venezuelan companies, awash with cash, find way to move money abroad

May 18 2021

CARACAS, May 18 Venezuelan companies that are holding cash in dollars to protect themselves from hyperinflation have started paying as much as 7% to have those funds transferred into overseas bank accounts, according to six people with knowledge of the situation.

Private equity funds eye Venezuela acquisitions on hopes Biden could ease sanctions

May 07 2021

CARACAS At least two private equity funds are seeking to acquire stakes in Venezuelan companies that have survived the country's economic crisis, spurred in part by optimism that the Biden administration could ease sanctions on the South American nation, according to a dozen sources familiar with the talks.

In Venezuela's survival economy, local taxes become latest challenge for business

Mar 29 2021

CARACAS Venezuelan mayors desperate for cash are levying hefty tax hikes and launching aggressive collection campaigns that have spurred complaints from businesses already struggling to stay afloat in an economy battered by economic crisis and the global pandemic.

Maduro seeks to speed up digital payments as Venezuela runs out of cash

Mar 15 2021

CARACAS Venezuelan President Nicolas Maduro is pressing banks to implement digital payment systems as hyperinflation prompts chronic shortages of cash in the bolivar currency, three people familiar with the talks told Reuters.

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