VENEZUELA
Analysts
Ruth Krivoy
Former Central Bank PresidentTamara Herrera
Former Advisor, Banking Industry AssociationDatabanks
Recent Country Insights
A complex landscape
VENEZUELA · Forecast · 09 Oct 2024 · 1 response
The 2024-2025 outlook is strongly influenced by the July 28, 2024 events. They raised the risk of diplomatic and economic isolation, imposed a brake on growth and disinflation, and increased the likelihood of an exchange rate crisis that might derail stabilization policy. Avoiding this course req...
New uncertainty
VENEZUELA · Report · 01 Oct 2024
Venezuela is in limbo and not. It is in limbo because the National Electoral Council has not published the results of our past elections in accordance with the law, and the Supreme Court's ruling designating Nicolás Maduro the victor was illegal. This awarded Maduro with power but no legitimacy a...
Oil revenues will set the tone
VENEZUELA · Report · 18 Sep 2024
Prior to July 28, inflation had been contained thanks to tight control over the official exchange rate, strong competition, and highly price-elastic consumer demand. In August, however, the inflation rate soared to 1.4 percent, double July’s 0.7-percent rate. We attribute this acceleration to a s...
Immune to everything?
VENEZUELA · Report · 27 Aug 2024
The Supreme Court of Justice has validated the results of Venezuela’s July 28 presidential election that had been announced by the National Electoral Council. The formality was carried out amidst a wave of harsh repression that sent the message that those in the upper echelons of government have ...
Webinar Replay - Venezuela Political Briefing
VENEZUELA · Report · 16 Aug 2024
Visit our calendar page to watch the replay of our webinar on the country's international standing and its economic and political outlook in the aftermath of Venezuela's pivotal 2024 presidential elections What can the international community do? Will there be room for negotiations? How could ...
We see more volatility and more risks
VENEZUELA · Report · 14 Aug 2024
We have revised our inflation and exchange rate projections down for this year. We keep our projections for 2025 while we reassess the development of the political crisis that surfaced with the July 28 elections. We think the government will stay its economic policy course, aimed at reducing i...
Maduro clings to power
VENEZUELA · Report · 31 Jul 2024 · 3 responses
Nicolás Maduro's dream of being legitimized by an electoral triumph on July 28 went up in smoke. He trusted that the advantageousness of an abusive incumbent would assure him victory, but his base betrayed him. Faced with this reality, the government opted for delegitimization and clings to power...
On the road to July 28
VENEZUELA · Report · 24 Jul 2024
As of now, elections will likely take place. The focus shifts to the government’s tactics blocking opposition witnesses, possible disruptions on election day (electricity or communication systems failures that the government "alerts" as a possibility of opposition sabotage), practices that deter ...
Elections, oil pose large risks to forecast
VENEZUELA · Report · 15 Jul 2024
We hold to our single scenario for our 2024―2025 forecast period, during which the goal of reducing inflation will remain a priority regardless of how elections turn out, and the exchange rate will serve as the nominal anchor for the government’s fight against inflation. We forecast an annual ...