VENEZUELA
Analysts
Ruth Krivoy
Former Central Bank President
Tamara Herrera
Former Advisor, Banking Industry AssociationDatabanks
Recent Country Insights
The transition needs an anchor
VENEZUELA · Report · 18 Mar 2026
In February 2026, monthly inflation fell to 13 percent from January’s 32 percent. Driving this slowdown were fiscal tightening and more generous foreign exchange interventions. The doubling of the amount of dollars auctioned and the seasonal rise in tax collection made it possible to temporarily ...
A Turning Point
VENEZUELA · Forecast · 16 Mar 2026
The events of January 3, 2026 have served as a positive shock. The prospect of higher oil revenues and the gradual easing of sanctions temporarily stabilized the exchange-rate market and revived investor interest in oil, gas, and mining. That stabilizing effect is now fading. The foreign-exchange...
The ups and downs of the transition
VENEZUELA · Report · 04 Mar 2026
Two months after the January 3 break, Venezuela’s transition has unfolded without the collapse many expected, and Rodríguez’s government has delivered on its two most visible commitments: Hydrocarbons Law reform and the Amnesty Law. While both are tangible signals of political action, each does c...
Inflation under guardianship
VENEZUELA · Report · 18 Feb 2026 · 1 response
Inflation rebounded to 32 percent in January 2026 amid sharp forex volatility, reflecting the market rate surge in the first two weeks of the month. On January 7, the forex gap peaked at 179 percent before closing the month at 39 percent on announcements that outlined a more favorable outlook for...
A window of opportunity
VENEZUELA · Report · 03 Feb 2026
Venezuela is entering a phase of political redefinition following the violent outcome of January 3, 2026. Delcy Rodríguez, now interim president under the tutelage of the Trump administration, has laid out a three-stage plan: stabilization, reconstruction (and reconciliation), and democratic tran...
Webinar replay - Venezuela: What's next?
VENEZUELA · Report · 30 Jan 2026
Visit our calendar page to watch the replay of our webinar featuring Ruth Krivoy discussing what's next for Venezuela. The country is at a pivotal moment, marked by both uncertainty and opportunity. With tensions involving U.S. interests, Venezuelan sovereignty, shifting oil market prospects and ...
Pivoting to stabilization
VENEZUELA · Report · 20 Jan 2026 · 1 response
Venezuela has entered an abrupt political transition that fundamentally reshapes the economic outlook for 2026-2027. Expectations shifted from a near-certain return to hyperinflation and recession toward a stabilization scenario, driven by access to roughly $10-12 billion in previously unanticipa...
Oil and stability first. Democratic transition later
VENEZUELA · Report · 05 Jan 2026 · 1 response
Trump transformed what appeared to be a "liberation" operation into an operation to replace authoritarian leadership and establish an economy under tutelage. His goal is to ensure U.S. access to oil and maintain stability in Venezuela. Operation "Absolute Resolve" concluded with Maduro and his...
War of attrition with a focus on oil
VENEZUELA · Report · 21 Dec 2025
After four months of naval deployment with no tangible results, Trump’s strategy toward Venezuela has shifted from military posturing to economic strangulation. By announcing a “total blockade” on sanctioned vessels carrying Venezuelan oil, seizing the tanker Skipper on December 10, slapping sanc...