Venezuela's Hooked on Dollars

"The exchange policy must be revised, they must work at creating trust and the BCV must stop injecting dollars,” said Asdrubal Oliveros

One hundred dollars money roll inserted in a vintage syringe on isolated white background. Money and drugs concept.
  • Economist Asdrúbal Oliveros estimates that the inflation in September will continue to increase in some sectors, unlike the food sector which adjusted immediately. Sectors like telecoms will follow. He estimates that inflation in August was around 15%, the highest of the year. He reiterated that this kind of problem could be solved by the regime if they did something about it. “They’re part of an economy that destroyed confidence in its currency,” he said and added that PDVSA keeps failing to abide by the schedule to deliver currency to the Central Bank, with which the BCV injects dollars into the economy. “PDVSA receiving a cash flow for oil exports is getting tricky, because of the sanctions the U.S. and Europe have issued against Russia, which was helping Venezuela in this matter,” he said. “The exchange policy must be revised, they must work at creating trust and the BCV must stop injecting dollars.” Oliveros said that there was an increase in discounts (up to 40%) on the oil barrel in the international market, and since our oil competes with Russian oil, it must be sold cheap. 
  • According to Bloomberg Línea, not to be confused with Bloomberg agency, Alex Saab’s wife, Camilla Fabri, was included as part of the delegation in Mexico for the negotiations between the government and the opposition. None of the sides confirmed the information. 
  • Fontur vice president Eloy Sulbarán assured that 85% of the fleet has been recovered thanks to the work by the Transportation Ministry and themselves, of course, but the figures don’t add up. 
  • The Armed Forces said they dismantled improvised explosives in Apure, according to a tweet by CEOFANB Commander Domingo Hernández Lárez. 
  • “The geopolitical context has changed and it’s given Venezuela a new chance to work on conflict management … an opportunity for dialogue and building a political system that’s useful, said Mariela Ramírez, Dale Letra activist.
  • Several NGOs requested the UN Human Rights Council to renew the mandate of the Fact-Finding Mission, which was created to investigate human rights violations in Venezuela. They asked for a two-year extension. 
  • ¿Cómo estás, Caracas? is the most recent project by Monitor de Víctimas, to collect data on the cases and testimonies of the problems that parishes of the Libertador municipality in Caracas endure. 
  • Espacio Público reported that there was an increase in cases of harassment and intimidation of citizens during August: 19 cases and 27 violations of freedom of expression, the highest number since March. 
  • The preliminary hearing of Juan Pablo Pernalete’s case was postponed again. 
  • The humanitarian director of NGO Plan Internacional, Unni Krishnan, said that Venezuelans’ massive immigration will get worse in the next few months, after confirming that the flow of migrants is constant on the border borders of Peru and Ecuador, yet again. Krishnan estimates that the international community doesn’t know the magnitude of our humanitarian crisis. 
  • U.S. Homeland Security published how Venezuelans with TPS can register again and renew their documents and work permit.  
  • Venezuela holds the last place in the International Property Rights Index 2022, presented by Property Right Alliance.
  • Clima 21 warned that Venezuela is the Amazonian country with the “highest loss of natural forests in the region,” more than Colombia and Bolivia. 
  • The President of Colombia, Gustavo Petro, received Nicolás’s ambassador Félix Plasencia and his ambassador in Caracas, Armando Benedetti, announced the restart of judicial cooperation between both countries, but didn’t explain their reach or implications. 
  • Former President Iván Duque said in an interview that his worst frustration was “not seeing the ousting of Maduro in Venezuela” and firmly opposed ceding territory to Nicaragua: “I rather have a century of tensions than ceding Colombian territory to Daniel Ortega’s dictatorship,” he said.

Naky Soto

Naky gets called Naibet at home and at the bank. She coordinates training programs for an NGO. She collects moments and turns them into words. She has more stories than freckles.