The Caracas Stock Exchange: an Investment Oasis or a Mirage?
During the first quarter of the year, the Caracas stock market grew by 81.3% compared to the same period in 2020. Let’s see what’s happening
El Feed
The IMF Recognizes Delcy Rodríguez
The next step for Venezuela would be appointing a new, more potable, Central Bank board. On Thursday night, Delcy announced the resignation of the BCV’s president.
Big week for the monetary system:
Tuesday: The new OFAC banking license allows Venezuelan public banks to legally use US dollars, receive billions of dollars in oil sales, and enter the US-controlled financial system.
Wednesday: Laura Dogu leaves her post as the US chief of mission in Venezuela. John Barrett, the former chargé d’affaires in Guatemala, will sets up shop in Caracas.
Thursday: The International Monetary Fund recognizes Delcy Rodríguez as acting president , “resumes dealings with Venezuela.” Meanwhile, Bloomberg reports the Cisneros Group has raised two thirds of the $1bn it plans to raise for a new investments fund.
Subscribe to El Feed
A string of Venezuela-related stuff delivered straight to your inbox.
What’s Left of Corporate Finance in Venezuela?
After chavismo hollowed out credit, companies survive in a financing vacuum while waiting for macroeconomic stabilization, reform and the normalization of dollar-based finance
Comments
