Venezuela
Sovereign debt in default fell by 1% in 2023 – BoC study
Research finds shift in lending away from Paris Club creditors towards China
Asset sovereignty: a problem to stump Solomon
When states have rival governments, who owns central bank assets?
Will the dollar remain the world’s reserve currency?
Bank of Russia sanctions are unlikely to undermine the US dollar’s central role in reserve portfolios. But a relative decline in US economic weight and technological innovation are benefiting other currencies
The case for restoring the role of monetary aggregates
Tim Congdon argues that a surge in money supply in response to Covid-19 sparked heightened inflation and central banks need to refocus their attention on monetary aggregates
UK court recognises Venezuela opposition’s central bank board
Supreme court had already ruled in opposition’s favour last December
Outsider arts: how Russia might adapt to sanctions
The history of the USSR and actions by other sanctioned countries may give clues to Russia’s next moves
UK court recognises Venezuelan opposition central bank board
Rival Venezuelan leaders have struggled over central bank and overseas gold reserves
Custodian use in upper-middle income economies declines
Unstable jurisdictions, such as Afghanistan or Venezuela, face risk of losing access to assets held abroad
Venezuela to debut CBDC in October
“Bolívar digital” accompanied by redenomination of currency, which will drop six zeroes
Venezuela releases three new banknotes amid hyperinflation
High-denomination notes reflect ongoing surge in prices
The Covid crisis, central banks and the future
Crisis responses have had positive initial outcomes, but also exacerbated significant underlying challenges that raise concerns related to exit strategies and the future for central banks
London court blocks Venezuelan government from using gold
Lawyers for Maduro regime say they will appeal over access to $1 billion store
Venezuela sues Bank of England over refusal to release gold
Authorities say they need $1 billion to fund response to Covid-19 crisis
Debts, deficits, central banks and inflation
Forrest Capie and Geoffrey Wood ask what insights history can provide for central banks and governments managing abrupt, large increases in debt
Venezuela uses Bank of Spain to carry out international transfers
Maduro regime faces sanctions to prevent it accessing US financial system
Uribe details aggressive Flar expansion plans
The Latin American fund chief, José Darío Uribe, speaks about: Flar’s efforts to support macroeconomic and financial stability; exposure to Venezuela; and more
Venezuelan opposition nominates ad hoc central bank board
Legislature aims to prevent Maduro’s regime from accessing gold and foreign currency reserves
Venezuela introduces new banknotes as hyperinflation continues
New notes come less than a year after five zeroes were dropped from currency
Trinidad and Tobago prime minister ridicules central bank’s migrant figures
Acting PM says he has “no idea” how central bank estimated cost of migrant crisis
Venezuela’s central bank finally admits economic collapse
First official data release since 2015 says GDP fell by 22.5% in the year to the third quarter of 2018
Venezuela to adopt a more flexible exchange rate
Analysts say liberalisation and US sanctions on oil industry are likely to further boost inflation