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.
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.
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.
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.
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.
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.
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.
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.
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.
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.