World Bank warns of Latin America's 'fragile' recovery
Jamaica Observer

WASHINGTON, United States (AFP) — The World Bank has expressed concern over the “fragile” economic recovery in Latin America and the Caribbean, weighed down by Venezuela's spiraling crisis and weak...

What does 10,000,000% inflation look like? See Venezuela
Jamaica Observer

WASHINGTON, DC, United States (AFP) — What does it look like to have inflation of 10 million per cent? When something that cost $1 now costs $100,000, is there even a way to calculate the impact?

Nearly 2 million Venezuelans flee crisis since 2015 — UN
Jamaica Observer

GENEVA, Switzerland (AFP) — Nearly two million people have fled Venezuela's economic and political crisis since 2015, the UN said Monday, calling for a “non-political” response to an exodus that is...

UN court asked to probe Venezuela; leader defiant in speech
Jamaica Observer

UNITED NATIONS (AP) — Six nations made the unprecedented move on Wednesday of asking the UN's International Criminal Court (JCC) to investigate Venezuela for possible crimes against humanity, even as President...

Venezuela's retrogressing economy
Jamaica Observer

Two hallmarks characterise capitalist economies. Firstly, property is predominately in private hands. Consequently, goods and services are allocated via market mechanisms in which prices provide signals for businesses,...

Haitian anti-graft protesters demand probe into oil fund scandal
Jamaica Observer

PORT-AU-PRINCE, Haiti (AFP) — Hundreds of Haitians protested in the streets of the capital Port-au-Prince on Sunday, demanding an investigation into the alleged misuse of funds marked for a cheap oil programme run by...

Venezuela first lady added to sanctions list
Jamaica Gleaner

The Trump administration on Tuesday slapped financial sanctions on four members of Venezuelan President Nicol·s Maduro's inner circle, including his wife and the nation's vice-president, on allegations of corruption.As...

Ghost properties: cruel legacy of Venezuela's migration crisis
Jamaica Observer

CARACAS, Venezuela (AFP) -- Three years ago, asphyxiated by Venezuela's economic meltdown, Francisco Rojas and his wife Elena packed up four suitcases with the barest of essentials and walked out of their Caracas...

Venezuela doubles down on Chinese money to reverse crisis
Jamaica Gleaner

Venezuelan President Nicol·s Maduro said Tuesday that new investments from China will help his country dramatically boost its oil production, doubling down on financing from the Asian nation to turn around its crashing...

David Jessop | Changing oil and gas relationships require wider debate
Jamaica Gleaner

Three weeks ago, Port of Spain and Caracas reached an agreement on the supply of gas from Venezuela’s Dragon Field through the creation of a 17-kilometre undersea pipeline that will link it to the National Gas...

Venezuela's Maduro pays tribute to Mao, makes deals with China
Jamaica Observer

Beijing, China (AFP) — Venezuelan President Nicolas Maduro paid tribute to Mao Zedong at the late Chinese leader's mausoleum on Friday before overseeing energy and gold mining deals as he seeks Beijing's help to...

Maduro looks to China to bolster Venezuela's collapsing economy
Jamaica Observer

BEIJING, China (AFP) — Venezuelan President Nicolas Maduro was expected to arrive in Beijing yesterday to strike deals with his crisis-hit country's biggest creditor.Before departing Caracas, Maduro said the trip was...

Maduro looks to China to bolster Venezuela's collapsing economy
Jamaica Observer

CARACAS, Venezuela (AFP) — Venezuela's President Nicolas Maduro departed Wednesday for China in search of agreements to bolster the oil-exporting country's collapsing economy.Maduro said the trip was "very necessary,...

Colombia calls for help to face Venezuela migrant surge
Jamaica Observer

BOGOTA, Colombia (AFP) — Colombia lacks the capacity to face by itself a deluge of Venezuelan migrants fleeing their crisis-afflicted country, Bogota's top diplomat said yesterday.Foreign Minister Carlos Holmes...

Jamaica's economy gets US$5 billion from PetroCaribe over 13 years
Jamaica Observer

KINGSTON, Jamaica (CMC) — Jamaica says it has benefitted from projects estimated at US$5 billion under the Venezuela-led PetroCaribe initiative over the past 13 years.CEO of the Petro-Caribe Development Fund Dr...

Venezuela urged to accept migration crisis humanitarian aid
Jamaica Observer

QUITO, Ecuador (AFP) — A group of Latin American countries signed a resolution on Tuesday urging Venezuela President Nicolas Maduro to accept humanitarian aid to “alleviate” the country's migration...

Venezuela breaks monthly inflation record, opposition says
Jamaica Observer

CARACAS, Venezuela (AFP) — Inflation in Venezuela broke the 200 per cent barrier for a single month in August, bringing it to 200,000 per cent over the last year, the sidelined opposition-controlled parliament said...

Diplomats urge Venezuela to accept international aid
Jamaica Gleaner

Diplomats urged Venezuela on Wednesday to allow humanitarian aid into the country to alleviate an economic crisis that has caused hundreds of thousands of desperate people to flee the crumbling oil...

Venezuelan migrants accept government offer for flight home
Jamaica Observer

LIMA, Peru (AP) — Nearly one hundred Venezuelan migrants in Peru are making an unexpected journey home after deciding to take up their government's offer of a free flight back instead of continuing to eke out a...

Venezuelans find US asylum surprisingly elusive
Jamaica Observer

MIAMI, United States (AP) — One was a Venezuelan army officer who deserted and joined the opposition. The other, a political activist who says he had to flee after pro-government forces attacked his home. They ended...

Venezuela claims 'thousands' of migrants want to come home
Jamaica Observer

Caracas, Venezuela (AFP) — Thousands of Venezuelans are clamouring to return home to recession, hyperinflation and a collapsing economy, President Nicolas Maduro's government claimed on Wednesday as Brazil sends...

Venezuela orders banks to adopt cryptocurrency
Jamaica Observer

CARACAS, Venezuela (AFP) — Venezuelan President Nicolas Maduro ordered banks to adopt the petro cryptocurrency as a unit of account Monday, as the country struggles to emerge from a severe political and economic...

Hyperinflation: spiralling prices and poverty
Jamaica Observer

PARIS, France (AFP) -- Venezuela today, Zimbabwe a decade ago, before that the rump Yugoslavia, Hungary and Germany. An explanation of hyperinflation where prices soar, banknotes get more zeros, and poverty and hunger...

Manufacturers unpaid for Venezuelan exports —TTMA
Trinidad Guardian

Some local businesses have not yet been paid for goods delivered to Venezuela, said Christopher Alcazar, President, Trinidad and Tobago Manufacturers’ Association (TTMA). However, he added the TTMA remains...

Energy expert: Some benefits from gas deal
Trinidad Guardian

The opportunity to bring natural gas from Venezuela brings with it “potential benefits” to T&T, says energy consultant Tony Paul. “This would be providing gas for plants that are currently...

UN worried about new restrictions on fleeing Venezuelans
Jamaica Observer

GENEVA, Switzerland (AFP) — The United Nations yesterday urged South American states to remain open to people fleeing the crisis in Venezuela, after Ecuador and Peru announced tightened border control...

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