Bureau Chief, Andean Region
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Apr 2, 2014

Venezuela’s ‘skyscraper slum’ provides haven for poor

CARACAS (Reuters) – It boasts a helicopter landing pad, glorious views of the Avila mountain range, and large balconies for weekend barbecues.

Yet this 45-storey skyscraper in the center of Venezuela’s capital Caracas is no five-star hotel or swanky apartment block: it is a slum, probably the tallest in the world.

Mar 25, 2014

Venezuela bonds up again as investors welcome new forex system

CARACAS, March 25 (Reuters) – Venezuelan bonds rose again on
Tuesday in a continued positive market reaction to a new
free-floating foreign exchange system that offered dollars for
eight times the official price at its opening session.

Traders said they expected the price for dollars to stay
roughly in the 50-55 bolivars range on the Sicad 2 mechanism’s
second day, given the high demand and still uncertain offer.

Mar 24, 2014

Venezuela forex system offers dollars at eight times official price

CARACAS (Reuters) – Venezuela launched a new free-floating foreign exchange system on Monday that offered dollars for eight times the official price in a move the government says will tame the black market but critics see as a massive devaluation.

Private bank operators said the price for dollars on the inaugural day of the Sicad 2 system varied between 50 and 55 bolivars, with demand high but offers thin.

Mar 24, 2014

Venezuela forex system offers dollars near black market rate

CARACAS (Reuters) – Venezuela launched a new foreign exchange system on Monday that offered dollars at a rate near the black market level, participants said, in an effort to tame the illegal trade and boost flows to local businesses.

Private bank operators said the price for dollars on the inaugural day of the Sicad 2 system varied between 50 and 55 bolivars, with demand high but offer very thin.

Mar 24, 2014

Venezuela launches new foreign exchange system

CARACAS, March 24 (Reuters) – President Nicolas Maduro’s
government launched a new foreign exchange system on Monday, a
long-awaited effort to tame Venezuela’s black market for U.S.
dollars and increase the flow of greenbacks to local businesses.

After authorities had missed several previously announced
dates to launch Sicad 2, the central bank said the platform was
ready for trading. (www.bcv.org.ve/c1/lonuevo.asp)

Mar 16, 2014

Venezuela central bank head acknowledges economic ‘crisis’

CARACAS (Reuters) – Central Bank President Nelson Merentes acknowledged on Sunday that Venezuela was undergoing an “economic crisis” but said measures like a new market-based currency mechanism would help bring rapid improvements.

“It’s a crisis, but it’s not a crisis of such deep dimensions as some analysts say,” said Merentes, who is considered more of a reformist than other senior financial officials in President Nicolas Maduro’s government.

Mar 15, 2014

Venezuela’s Maduro gives ultimatum to Caracas protesters

CARACAS (Reuters) – Venezuela’s President Nicolas Maduro warned protesters in Caracas on Saturday to clear a square they have made their stronghold, or face eviction by security forces.

Plaza Altamira, in upscale east Caracas, has been a focus of anti-government protests and violence during six weeks of unrest around Venezuela that has killed 28 people.

Mar 14, 2014

Venezuela’s foreign minister calls Kerry ‘murderer’

CARACAS (Reuters) – Venezuela’s foreign minister lambasted U.S. Secretary of State John Kerry on Friday as a “murderer” fomenting unrest that has killed 28 people in the South American OPEC member nation.

Since street demonstrations began against President Nicolas Maduro’s socialist government in early February, Venezuelan officials have been accusing Washington of stirring the country’s worst political troubles in a decade.

Mar 13, 2014

Three more killed in Venezuela unrest, students battle troops

CARACAS (Reuters) – Protesters battled soldiers in the streets of Caracas again on Wednesday as three more fatal shootings raised to 25 the death toll from a month of demonstrations against Venezuela’s socialist government.

Thousands of supporters and foes of President Nicolas Maduro took to the capital’s streets for rival rallies marking a month since the first bloodshed in the recent unrest around the South American OPEC nation.

Mar 12, 2014

Venezuela unrest death toll rises, students fight troops again

CARACAS (Reuters) – Protesters battled soldiers in the streets of Caracas again on Wednesday as two more fatal shootings raised to 24 the death toll from a month of demonstrations against Venezuela’s socialist government.

Thousands of supporters and foes of President Nicolas Maduro took to the capital’s streets for rival rallies marking a month since the first bloodshed in the recent unrest around the South American OPEC nation.

    • About Andrew

      "Andrew Cawthorne is a British journalist who has worked for Reuters since 1992 on various assignments in Latin America, Africa, Europe and the Middle East. Prior to that, Andrew worked on newspapers for several years."
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