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Dialogue is suspended but not yet died

Wednesday, December 7, 2016

Venezuela opposition says talks off until government fulfills agreements


Venezuela's opposition said on Tuesday talks with President Nicolas Maduro's administration were off until the leftist government keeps promises on elections and foreign aid, casting further doubt on Vatican-brokered attempts to alleviate the country's deep political crisis. The formal talks, which began in October with facilitators from the Vatican, appeared to have led to the release of a handful of detained activists, but hopes for real rapprochement have always been slim. The two sides are at loggerheads, with the opposition seeking the ouster of socialist Maduro, while authorities have vowed he would not leave office before his term ends in 2019. More…

Venezuela says Shell to provide $400 million financing for oil venture


Royal Dutch Shell Plc will provide some $400 million in financing to boost oil output at Venezuela's Petroregional del Lago, a joint venture with state-run PDVSA, the South American country announced on Tuesday. Petroregional, which operates the Urdaneta oilfield in Venezuela's western Maracaibo Lake, produces between 30,000 barrels per day and 35,000 bpd, according to Shell's website. Shell holds a 40 percent stake in the venture. The agreement aims to increase total production to 344 million barrels between the 2017 and 2035 period, PDVSA said in a statement, or an average of around 52,400 bpd. More…

Venezuela Liquidity Tightens Even Further As Social Unrest Continues


The Venezuela liquidity challenge is getting more difficult. A Barclays report notes that available cash for critical imports is down to just $1 billion and the country is having difficulty leveraging its gold reserves to stave off the credit crunch. In a nation seemingly spinning out of control, the liquidity trap is tightening. Venezuela liquidity problems are not new, the nation’s attempts to scramble to find capital – and the depths it is going to find liquidity – are “worrisome,” Barclays Analyst Alejandro Arreaza wrote in a December 5 report. More…

Venezuela Pay Squeeze Knocks Global Wage Growth Into Perspective


If think your pay raise is lousy, consider the workers of Venezuela. Parts of Latin America will see the worst hit to real wages as inflation outpaces salary growth, according to data from global human resource departments compiled by advisory firm Korn Ferry Hay Group Ltd.In Argentina, people can expect to see a 28.5 percent headline raise wiped out by an inflation rate of 41 percent, pushing real wages down 12.5 percent, the projections show. The biggest pain comes in Venezuela, where price growth of 485 percent compares with nominal salary gains for 111 percent. Excluding Venezuela and Argentina, real wages in the region will rise 1.1 percent in 2017. More…

Braulio Jatar completes 3 months in prison in Venezuela as international campaign for his release advances


Ana Julia Jatar shared a photo of her brother Braulio 82 days after he was first imprisoned in Venezuela. His face is gaunt, his once full head of silver hair is shaven and he wears a sad expression on his face. December 3 marked three months since journalist and lawyer Braulio Jatar Alonso was arrested and locked in a Venezuelan prison. During this time, his family and lawyers have denounced not only irregularities in his detention process, but inhumane treatment in prison that has “seriously” affected the journalist’s health. The latest news is that Jatar is suffering from a “presumptive basal cell carcinoma, cancer lesion (skin cancer) that without proper treatment can spread to other tissues and grow in muscles and bones,” according to Jatar’s defense, as published in newspaper El Universo. More…