VENEZUELA
Analysts
Ruth Krivoy
Former Central Bank President
Tamara Herrera
Former Advisor, Banking Industry AssociationDatabanks
Recent Country Insights
Venezuela’s restructuring announcement: the right words, eloquent silences
VENEZUELA · Report · 15 May 2026
On May 13, the Venezuelan government formally launched its external debt restructuring process through a statement signed by Calixto Ortega, Vice President for the Economy. The same day, a Businesswire release announced that Centerview Partners will serve as financial advisor. The appointment of ...
Disinflation continues, exchange rate gap becomes entrenched
VENEZUELA · Report · 13 May 2026
Monthly inflation fell to 10.6 percent in April from 13.1 percent in March thanks to stronger oil revenues. Central bank forex sales rose, the market rate fell, the pace of official exchange rate depreciation slowed, and the exchange rate gap narrowed. Moreover, April brought an easing of sanctio...
Change in their own terms
VENEZUELA · Report · 28 Apr 2026
After nearly four months in office, the Rodríguez group has brought gain: stability in the immediate political environment, legal reforms to reshape the business climate for the oil and mining sectors, and progress toward a consensus on labor reform. These gains coexist, however, with persistent ...
The IMF as a starting point
VENEZUELA · Report · 17 Apr 2026
The formal restoration of relations between Venezuela and the International Monetary Fund (IMF) and the World Bank on April 16, 2026 marks an inflection point in the country's economic trajectory. Relations had been suspended in March 2019 over issues related to the recognition of Venezuela's gov...
Disinflation with friction
VENEZUELA · Report · 14 Apr 2026
Thanks to record foreign exchange sales of $1.047 billion, in March 2026, inflation slowed to 13.1 percent from 14.6 percent in February. The strong forex sales helped ease exchange rate pressures and narrow the gap between the official and market rates to 40.8 percent. But the increase in the In...
Managed calm
VENEZUELA · Report · 30 Mar 2026
It is becoming clear that the Trump administration’s primary objective for Venezuela is geopolitical stability. Stabilization is advancing, although not necessarily as a prelude to democratization. What is emerging is a mutually convenient arrangement between Washington and Rodríguez that could b...
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...