The government-ordered military occupation of a Venezuelan electronics chain has brought out a reserve force in its wake: a line of shoppers that stretched for three blocks from a store in eastern Caracas today.
Venezuela will increase the sale of dollars by starting weekly auctions in a bid to arrest the decline of the bolivar on the black market and boost imports amid shortages of everything from toilet paper to chicken.
Venezuela President Nicolas Maduro appointed the third central bank president this year as Latin America’s biggest oil exporter seeks to rein in the fastest inflation among the world’s major economies.
A senior Obama administration official is disputing Venezuelan President Nicolas Maduro’s claim that plots against his life by former U.S. government officials forced him to cancel a trip this week to New York.
Venezuela will pay for $600 million of food imports including milk and live chicks from Colombia with dollar-denominated bonds, a sign the nation is running out of money to address the chronic shortages of basic goods fueling the world’s fastest inflation.