Venezuela
How Venezuela can stop hyperinflation – now
Redenominating the currency will only prolong the pain, says Steve Hanke. More drastic measures are needed
Delayed banknotes arrive in Venezuela
Thirty billion bolivars of notes finally shipped from Sweden, says central bank director; further denominations expected by the end of the month
Venezuelan president replaces central bank governor
Serving governor asked to resign, local reports say; new governor is strong political supporter of president
Venezuela’s Maduro backtracks on bolivar withdrawal
Venezuelan currency crisis continues with delay of new series and re-integration of 100 bolivar note, as president blames “international sabotage”
Venezuela removes largest banknote amid contraband concerns
Government authorises removal of 100 bolivar bill to combat “mafias”; nation also closes border with Colombia amid “economic war”
Venezuela central bank launches new banknotes amid soaring inflation
The bolivar has weakened to unprecedented levels as inflation soars and political instability engulfs the nation; new note series’ highest denomination is 200 times larger than current highest
IMF paper offers alternative explanation for Venezuelan inflation
Working paper argues fall in oil prices combined with restrictions in foreign exchange best explains hyperinflation in Venezuela, rather than a self-reinforcing rise in expectations
Venezuela revamps foreign exchange regime
Government moves to exchange rate system, offering an official and floating rate to market participants; second sets of changes in as many years
People: Haitian ex-governor appointed prime minister; Egyptian ex-governor rejoins largest bank
Ex-governor becomes interim premier amid severe political instability; Egyptian ex-governor returns to country’s largest commercial bank; Venezuelan central bank appoints new director
Observers cast doubt on first Venezuelan inflation figures in a year
Central bank report puts annual inflation at 141% at end of September, after a year without publishing the data; some consider the figure to be too conservative
Venezuelan president cuts congress out of key central bank matters
President ‘shields’ central bank from opposition interference, according to one observer, with changes effective on eve of national assembly meeting
Venezuelan central bank sues US data website
Central bank accuses black market data website of artificially raising the rate of inflation in the country
Venezuelan inflation still running at over 700%, expert says
Venezuela’s central bank appears to be unable to make any impact on soaring inflation levels and has not reported an inflation number this year, says Steve Hanke
Central banks expect South American inflation to stabilise
Inflation rising in several countries in South America, but central bank heads in region suggest it will ‘moderate’ when supply shocks dissipate and exchange rates normalise
El Salvador central bank sells 80% of its gold reserves
Central Reserve Bank of El Salvador sold 80% of its gold holdings last month and invested the proceeds in dollars; Venezuela carries out $1 billion gold swap deal
Venezuela fleshes out details of new floating exchange rate
Venezuela’s central bank will introduce a new free-float exchange rate, allowing people and companies to freely buy and sell dollars; economists say it will lead to depreciation
Colombian paper examines synchronisation of economic cycles in Latin America
Central Bank of Colombia working paper finds there is ‘not a high’ level of synchronisation between a sample of seven Latin American countries
Venezuela to adopt new currency exchange system
Venezuela’s president announces changes to the country’s three-tiered currency exchange system, adapting the higher rate to market fluctuations
Central Bank of Venezuela grants exchange rate boost to state oil company
Venezuela's state-owned oil company can now sell its dollars from certain export contracts at the highest exchange rate in the country; president hints at exchange rate reform
People: Venezuela finance minister to sit on central bank board; and more
Venezuelan finance minister gets a seat on the central bank board; Bank of Japan London representative moves home to head up international division; and more
Central Bank of Venezuela sees third president in nine months
Nelson Merentes, currently finance minister, will return to the bank, which he led for four years before leaving in April; meanwhile, the finance and ‘banking system' ministries are being merged
Central Bank of Venezuela seen in debt reshuffle
The central bank will reportedly buy securities from the country's mining corporation with debt accumulated from the state-owned oil company
Central Bank of Venezuela to buy country's entire gold production
Central bank in joint bid with state oil company to ‘regularise' production, sales and purchases of the precious metal, which last year accounted for 70% of the bank's international reserves
Venezuela central bank head replaced amid corruption claims
President Maduro appoints head of the currency exchange board, Eudomar Tovar, to lead the CBV; Edmée Betancourt is sacked three months after moving from the scandal-plagued development bank