VENEZUELA
Analysts
Ruth Krivoy
Former Central Bank President
Tamara Herrera
Former Advisor, Banking Industry AssociationDatabanks
Recent Country Insights
Stability: Work in progress
VENEZUELA · Forecast · 13 Oct 2026
Three shocks have shaped 2026. The January 3 rupture unlocked higher oil revenues under U.S. oversight. War in the Middle East drove oil prices higher. And the June 24 earthquakes killed more than 6,500 people and caused an estimated $14.8 billion in losses. The economy is more stable than it was...
Legitimacy abroad, impatience at home
VENEZUELA · Report · 30 Sep 2026
The UN General Assembly was the stage where Delcy Rodríguez introduced the world to her alliance with the Trump administration and, above all, to her first political manifesto. In language free of ideological markers, Rodríguez outlined a transition “from within,” led through existing institution...
Less foreign exchange, more pressure
VENEZUELA · Report · 15 Sep 2026
August brought a pause in the inflation acceleration of June–July, but it did not dispel the fragility of the foreign exchange balance. Monthly inflation fell to 9 percent from 20 percent in July, in line with slower depreciation of the official exchange rate and the seasonal moderation in fiscal...
NABEP: Washington and Caracas’ oil bet
VENEZUELA · Report · 14 Sep 2026
The U.S.-Venezuela agreement centered on North American Blue Energy Partners (NABEP) seeks to turn the revival of Venezuela’s oil industry into a quick political success for both governments. President Trump’s political objectives are the main driver and cornerstone of the agreement: it could ...
Washington decides the course, Caracas negotiates the pace
VENEZUELA · Report · 25 Aug 2026
After the earthquakes, the country returns to a "new normal" under more pressure to accelerate change — though the relevant actors understand "change" quite differently. The negotiating table between the 2015 National Assembly delegation and the Rodríguez government, represented by the 2025 Na...
Closing the gap bears a cost in inflation and forex
VENEZUELA · Report · 19 Aug 2026
July laid bare the tradeoff facing the Central Bank of Venezuela (BCV): narrowing the exchange rate gap inevitably comes at an inflation cost and requires abundant foreign currency. The official exchange rate depreciated 18.2 percent, while monthly inflation accelerated to 19.9 percent, confir...
Webinar replay - Venezuela: The road ahead
VENEZUELA · Report · 31 Jul 2026
After Venezuela was shaken by twin earthquakes, bringing a tragic loss of life and destruction, the country must rebuild and try to move forward. How are recovery and reconstruction efforts proceeding? What are the economic and political ramifications for the country? How is Venezuela faring on o...
Upcoming webinar - Venezuela: The road ahead
VENEZUELA · Report · 29 Jul 2026
Time: 10:00 AM EDT After Venezuela was shaken by twin earthquakes, bringing a tragic loss of life and destruction, the country must rebuild and try to move forward. How are recovery and reconstruction efforts proceeding? What are the economic and political ramifications for the country? How is...
Earthquakes expose the extent of U.S. oversight
VENEZUELA · Report · 28 Jul 2026
Since January 3, Delcy Rodríguez’s interim government has operated under an arrangement by which Washington retains strategic decision-making authority and control over oil revenues, while Rodríguez runs the government with autonomy limited to non-strategic areas. The June 24 earthquakes put t...