The Daily Journal — The Government of Venezuela and the United Nations (UN) launched a joint 60-day initiative on Wednesday to assess the damage and recovery needs caused by the twin earthquakes that struck on June 24. The disaster claimed thousands of lives, displaced thousands of people, and caused extensive material damage. The initiative, called […]
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EFE — The U.S. Department of the Treasury announced on Monday a temporary easing of certain financial oversight measures to allow U.S. institutions to facilitate authorized transactions related to Venezuela’s economic recovery and humanitarian assistance following the country’s recent earthquakes. Under the measure, the Treasury said the Financial Crimes Enforcement Network (FinCEN) will not take […]
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The Daily Journal — Acting President Delcy Rodríguez announced on Friday that Venezuela has secured an initial $346 million from its own funds held at the International Monetary Fund (IMF) following the emergency caused by the twin 7.2 and 7.5 magnitude earthquakes that struck the country’s northern region on June 24. “Following the devastating twin […]
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The Daily Journal. — Maritime commercial activity in La Guaira is approaching a full restart after the structural damage that the June earthquakes caused. Eduardo Quintana, coordinator of Fedecámaras La Guaira, said reconstruction work at the Central Coast’s main port has made significant progress in critical loading and unloading areas. During an interview on the […]
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The Daily Journal. — Three weeks after the earthquakes that struck north-central Venezuela, the Venezuelan Banking Association (Asobanca) announced financial relief measures for businesses in La Guaira state. The banking association reported that about 40% of the 12,300 point-of-sale terminals operated by private banks in the state are currently processing commercial transactions. According to Asobanca, […]
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The Daily Journal — Venezuela’s Acting President Delcy Rodríguez said on Monday that the economic impact of the June 24 earthquakes remained “localized” and stated that the country’s main sources of revenue continue to grow, including oil production, which she said has reached 1.2 million barrels per day. Speaking at a National Economic Council meeting […]
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The Daily Journal. — Fedecámaras President Felipe Capozzolo stressed the importance of strengthening the production chains of the construction, apparel, and textile sectors to accelerate the rapid reintegration of everyone affected by the twin earthquakes that struck Venezuela on June 24. Capozzolo emphasized the need to guarantee housing and employment so people affected by the […]
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The Daily Journal.— Consecomercio has presented a legislative proposal to support Venezuela’s reconstruction following the earthquakes that affected several regions of the country. The proposal also calls for financial mechanisms and coordinated action between the public and private sectors to address the emergency. In a statement, the business association said it submitted the draft Law […]
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The Daily Journal.— As Nicolás Maduro and Cilia Flores complete six months in custody in the United States, where they face criminal proceedings before the United States District Court for the Southern District of New York, a recent survey by Delphos provides a snapshot of Venezuelan public opinion on the political landscape that followed the […]
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The Daily Journal — Economist Asdrúbal Oliveros has brought a sobering reality to the forefront, one that forces the country to look beyond the physical destruction and the undeniable human tragedy. The recent earthquake has carved a deep crack into Venezuela’s already fragile financial structure. According to the analyst’s preliminary estimates, the material losses are […]
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