Venezuela’s long-running economic crisis appears to have hit bottom – WPLG Local 10

Police are investigating after a fire rescue truck was shot at in the area of NW 19th Street and 31st Avenue.
A large police presence was spotted Friday afternoon at McArthur High School in Hollywood, which police say was the result of what appears to be a “false call.”
King Charles III and Camilla, the Queen Consort, have arrived in Wales for an official visit.
BREAKING NEWS
Cody Weddle, Colombia/Venezuela Correspondent
Andrea Torres, Digital Journalist
Published: 
Updated: 
Cody Weddle, Colombia/Venezuela Correspondent
Andrea Torres, Digital Journalist
CARACAS, Venezuela – Gladys Rosales, a retired nurse in Caracas, said she has trouble making ends meet. She has to rely on the bolivar despite the ongoing dollarization in Venezuela.
And although experts said there are signs that the long-running economic crisis has hit bottom, it will take a while for Rosales, 60, to get relief.
“Note that my old age pension is 7 bolivars,” Rosales recently said in Spanish.
The dollar has traded for about 4.5 bolivares in the last four months and that is a sign that the Venezuelan currency has finally stabilized, Bloomberg reported last week.
In January, Venezuelan President Nicolás Maduro touted economic growth during his national address. He started to relax some of the strict controls in 2019.
Venezuela’s annual inflation rate closed at 2,959.8% in 2020 and at 686.4% in 2021, according to Venezuela’s central bank data released in January.
“We are still going to have the highest inflation in the world,” said Caracas-based economist Marcos Antonio Capote, a consulting manager for OMNIS.
An annual survey by academics from major universities in Venezuela estimated last year that the poverty level was at 94%.
Local10.com archives: Feb. 26, 2021 report
Weddle reported from Bogotá, Colombia. Torres reported from Miami.
Copyright 2022 by WPLG Local10.com – All rights reserved.
Venezuela’s National Electoral Council says an opposition petition drive seeking to force a recall referendum against President Nicolás Maduro fell far short of the signatures needed.
A court in Venezuela has upheld long prison sentences for six American oil executives detained in the South American country on corruption charges for more than four years.
Nicolás Maduro’s supporters determined the Venezuelan opposition had 12 hours to collect the 4.2 million signatures needed to request a revocation referendum against the president.
The Emmy Award-winning journalist joined the Local 10 News team in 2013. She wrote for the Miami Herald for more than 9 years and won a Green Eyeshade Award.
email
If you need help with the Public File, call (954) 364-2526.
Copyright © 2022 Local10.com is published by WPLG INC., a Berkshire Hathaway company.

source

Leave a Comment