Clímax magazine, one of Venezuela’s new crop of online media outlets, has an excellent story on how Venezuela has become a haven for cheap labor. Now, if you read The Economist and other rankings, you might think that Caracas is the most expensive city in the Americas. In fact, that’s what the headlines read a…
Nelson Merentes, the President of the Central Bank of Venezuela (“BCV”), seems to have a bit of a soft mutiny in the ranks. A group from the bank’s technical staff has been leaking information to the media on the mismanagement of the institution, including the craziest bit of news this week: the one about the Central Bank printing…
Is Venezuela headed towards hyperinflation? A few days ago, Quico dismissed allegations of runaway hyperinflation in the country. He used a report put out by Francisco Rodriguez and his team at BofA using over five thousand regressions to estimate the annualised inflation rate of Venezuela based on the few economic indicators we have. His conclusion was that we’re not…
From the department of so-funny-it’s-tragic: La Patilla is quoting anonymous sources inside the Central Bank who claim the government’s printing press is working overtime, so much so that they are having to import the bills just to keep up with demand. The highlight: Central Bank of Venezuela (BCV) technical employees spoke to lapatilla.com and they claim that “due…
Caracas Chronicles 