Latest articles from Venezuela

Chávez takes on banking sector

September 1, 2008

President Hugo Chávez’s decision to nationalise Banco de Venezuela has come at a time when government-bank relations are uneasy following a Ministry of Finance crackdown on foreign exchange controls. Writer Jane Monahan.

Playing ball with Chávez

September 3, 2007

Banks that co-operate with Venezuela’s government can make good profits, but some fear a total takeover of the banking system is the true game plan. John Rumsey explains.

Investors weigh up possibility of default

July 2, 2007

If Venezuela bows out of the multilateral lending agencies, as the president has mooted, bondholders could be in for a mini windfall. John Rumsey reports.

Banks thriving despite Chávez bravado

March 5, 2007

Venezuela’s president may shock with his ‘socialist’ pronouncements but the banking sector is not worried.

Icelandic masterclass in the art of good public relations

June 5, 2006

Under pressure from rating agencies, Reykjavik’s top financial brass politely make their case – unlike Venezuela’s premier Hugo Chávez.

US seeking antidote to the Chávez effect

April 3, 2006

Venezuelan president Hugo Chávez’s anti-US stance is causing consternation in Washington, says Peter Hakim.

Venezuela

January 2, 2006

Banco Mercantil
Gustavo Marturet, President

From small beginnings...

December 5, 2005

...great things can come, as microfinance pioneer Banmujer shows. Hugh O’Shaughnessy reports from Caracas on how the tiny bank aimed at poor women is attracting international attention and emulation.

Unlikely bedfellows

December 5, 2005

With profits healthy, private banks seem happy to play ball with their ideological nemesis, president Hugo Chávez. Jane Monahan reports from Caracas.

Are banks fulfulling their moral role?

December 2, 2003

There is growing concern that Venezuela’s banks are ignoring their
private credit portfolios and relying instead on government paper, says
Mike Ceaser.
What happens when a nation’s banking system loses all of its customers
except one? When that nation is Venezuela, and the customer is the
government, the banks thrive. But the morals of this tactic and its
effect on the nation’s economy are being questioned.“Not having access to international markets, which had a very high cost, the state turned to the internal market”

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