Francisco Rodriguez is Chief Economist at Torino Capital
[The original version of this piece was published in Spanish on Franciscorodriguez.net.] The spread of the new coronavirus disease (COVID-19) to a global pandemic, and its arrival in Venezuela is one of the main threats that our country will have to face in these...
An import collapse, caused by the massive decline in oil production, is the main cause of Venezuela’s economic implosion. The fall in oil production began when oil prices plummeted in early 2016 but intensified when the industry lost access to credit markets in 2017.
Brexit. The Colombian referendum. Trump. And now, in Venezuela, another did-that-just-happen election result: on October 15, the wildly unpopular ruling coalition won 17 of 23 governorships. This, just two years after the opposition trounced the ruling coalition in...