International Trade
Cargo that has arrived at Puerto Cabello:
- 14,411 tons of chicken and beef
in 434 containers from JBS Brazil for state agency CASA.
- 3,500 tons of whole milk and
margarine in 113 vans from JBS Brazil for state agency CASA.
- 357 tons of spare auto parts in
34 containers from FORD and Kuehne Nagel in the US for their local
affiliates.
Oil &
Energy
Oil prices drop following Iran nuclear deal and
excess supply
West Texas
intermediate oil prices (WTI) dropped 3.31% to US$ 49.19 per barrel after it
was announced that US reserves rose to 2.5 billion barrels - the highest level
for this time of the year in 8 decades. More in
Spanish: (El Mundo, http://www.elmundo.com.ve/noticias/petroleo/industria/petroleo-cae-tras-pacto-nuclear-con-iran-y-exceso.aspx#ixzz3gi6zzDXq)
Commodities
Diverting food shipments violates consumer
rights
Roberto León Parilli, President of the National
User and Consumer Alliance charges "the
government is admitting that its own food companies are not producing at 100%
capacity and not meeting demand", and says that the latest order to
divert 30-100% of priority products from private markets to public facilities
violates citizen rights to chose. More in Spanish: (El Nacional, http://www.el-nacional.com/economia/Desvio-alimentos-viola-derecho-consumidores_0_669533265.html)
Economy
& Finance
BOFA projects Venezuelan fiscal deficit at US$
20.2 billion this year
Bank of America Merrill Lynch now estimates
Venezuela's fiscal deficit will be US$ 20.2 billion at the close of 2015.
The bank estimates national income is down by
US$ 43.1 billion in the past two years, and that "the adjustment in imports and PETROCARIBE dispatches, as well as
capital outflows, will have a cutback of US$ 31.7 by the end of the year",
but despite it all Venezuela will have to finance a US$ 14.1 billion gap and
that although the country may be able to hold out for two years this economic
trend is "clearly unsustainable".
More in Spanish: (El Nacional, http://www.el-nacional.com/economia/Calculan-deficit-millardos-ano_0_669533194.html)
International reserves down nearly
4% since July 1st
International
reserves have dropped to a new low of US$ 15.611 billion this year, almost 4%
since the start of this month, The drop in the price of gold is driving the
trend further since most of Venezuela's reserves are held in gold. More in
Spanish; (El Universal;http://www.eluniversal.com/economia/150722/que-esta-pasando)
What lies behind
secrecy in Venezuela's economic data
The Central Bank of Venezuela (BCV) has broken with
the routine of releasing monthly national economic data, as required by law,
and turned it into a matter of total secrecy. Beginning in 2013, the BCV
started to delay the release of economic figures, ending the year with the blatant
omission of its Annual Report. Delays have become more usual and
prolonged ever since, and now in 2015 there is a total absence of information
about the performance of the economy, to such an extent that official figures
are some of the greatest enigmas in Venezuela today. This silence on the part
of the Central Bank has led analysts to find alternative sources. One of these
is the Center for Documentation and Social Analysis of the Venezuelan
Federation of Teachers (Cendas-FVM), which for over 20 years has been releasing
the cost of the basic basket of goods for a household comprised of five individuals
on average incomes. (Latin American Herald Tribune, http://www.laht.com/article.asp?ArticleId=2392700&CategoryId=10717)
Venezuela could fall into hyperinflation before
the end of the year, according
to CENDAS-FVM’s Chief Oscar Meza. Meza explained this takes place when the
monthly inflation rate is higher than 50% or when it’s 200% one year and 400%
the next. CENDAS also reported the
average family basic food and consumer goods basket skyrocketed to Bs.54,204.69
in June, up Bs.11,357.78 (26.5%) from May. Annualized variation
for the June 2014-June 2015 term is 163.6% or Bs.33,643.84. A five-member
family needs eight minimum wages to cover the cost. (Veneconomy, http://www.veneconomy.com/site/index.asp?ids=44&idt=44780&idc=2;
http://www.veneconomy.com/site/index.asp?ids=44&idt=44770&idc=2)
The Central Bank (BCV) has called a US$ 600 million bond bid for individuals, savings funds and similar savings associations from
the public sector to participate via commercial and universal banks. (Veneconomy,
http://www.veneconomy.com/site/index.asp?ids=44&idt=44779&idc=2)
Politics and
International Affairs
Poll shows opposition
candidates 17% ahead of regime in voter intentions
DATANALISIS President Luis Vicente León says
that opposition candidates are 17 points ahead of government candidates in
voter intentions on December 6th parliamentary elections. "47.5% of the population is sure to vote in
these elections, and 73% say they will evaluate doing so", he adds.
Polls show 84% believe the country is in bad or very bad shape, which "discourages people, above all the younger
people who do not feel a part of it and start to seek alternatives."
More in Spanish: (El Nacional, http://www.el-nacional.com/politica/Luis-Vicente-Leon-Intencion-oficialismo_0_669533161.html)
Opposition will present a united ticket on
December ballot
Chuo Torrealba,
Executive Secretary of the opposition Democratic Unity Conference (MUD) has
announced that all opposition parties finally agreed to present candidates for
the upcoming December 6th parliamentary election on a united single ticket on
the ballot, as well as coordinate all election strategies under a unified
command. More in Spanish: (El Nacional, http://www.el-nacional.com/politica/MUD-Tarjeta_Unica_0_669533254.html)
Maduro's triple
strategy to win the upcoming parliamentary elections
President Nicolás Maduro is displaying a three
pronged strategy to win the upcoming legislative elections on December 6th,
with which he seeks to avoid an opposition takeover of the National Assembly.
In the first place, the entire government apparatus is being used to block and
discourage opposition participation, through such devices as disqualifying
candidates already selected in primary elections. Second, by distracting
attention through an inflammation of border tensions with Guyana and calling
opposition leaders such as Henrique Capriles "traitors"; and third, by trying to hide the national economic
crisis and evading any sort of economic adjustment that could further take away
support even if this is pushing the nation into hyperinflation. More in
Spanish: (INFOLATAM, http://www.infolatam.com/2015/07/22/esta-es-la-triple-estrategia-de-maduro-para-ganar-las-elecciones-legislativas/)
Guyana opposes
Venezuela’s Plan to Issue IDs in Contested Region, will not halt investments in
the area
The government of Guyana said it would resist
any effort by Venezuela to issue identification cards to residents of the
contested Essequibo region. “We will
stoutly resist any effort to have our people issued with cards and things like
that, and whatever we need to do as a nation to ensure that we are not distracted
in any way from our path of development we are going to do it,” said Minister
of State Joseph Harmon. He was reacting to comments from the head of
Venezuela’s Office for the Rescue of the Essequibo, Pompeyo Torrealba Rivero,
who said efforts would soon be made to issue Venezuelan identification cards to
an estimated 200,000 people born in the region. At the same time, Guyanese
Foreign Minister Carl Greenidge said his country would not halt investments in
the 159,000 square kilometer region, and again stated an International Court
decision in the dispute since the other routes for a solution have been
exhausted.(Latin American Herald Tribune, http://www.laht.com/article.asp?ArticleId=2392726&CategoryId=10717;
and more in Spanish: (El Nacional; http://www.el-nacional.com/)
Guyana's president
visits the US to discuss dispute with Venezuela
The President of Guyana, David Granger, has traveled
to Washington to discuss the border dispute between his country and Venezuela
over the region of the Essequibo, against the backdrop of the US Conference on
Hemispheric Security and Defense. Granger will meet with representatives of the
US Department of State. (El Universal, http://www.eluniversal.com/nacional-y-politica/150722/guyanas-president-visits-the-us-to-discuss-dispute-with-venezuela)
Kerry hopes aperture toward Cuba
will propel US-Venezuela talks
At a joint press
conference with Cuba's Foreign Minister Bruno Rodríguez, US Secretary of State
John Kerry has expressed the hope "that
our diplomatic relations with Cuba could encourage not only a greater dialogue
with Venezuela, but also efforts to help Colombia put an end to 50 years of
warfare." More in Spanish: (El Nacional; http://www.el-nacional.com/
Shannon: Venezuela-US
dialogue was Maduro's initiative
US State Department of State Counselor, Thomas
Shannon, has said that the dialogue between the US and Venezuela began at
President Nicolás Maduro's request, and described the situation of talks as
"hopeful," but noted that they are were just beginning. (El
Universal, http://www.eluniversal.com/nacional-y-politica/150722/shannon-venezuela-us-dialogue-was-maduros-initiative)
Spanish senators to
visit Mayor Ledezma
Spanish senators Dionisio García Carnero (PP),
Ander Gil (PSOE), Iñaki Anasagasti (PNV), and Josep Maldonado Gil (CiU), have
arrived here on a human rights mission at the invitation of the opposition
umbrella group Unified Democratic Conference (MUD). They were met by María
Corina Machado, the leader of political movement Vente Venezuela who was
recently disqualified to run for Congress, as well as Mitzy Capriles de Ledezma
and Lilian Tintori, the wives of detained opponents Antonio Ledezma and
Leopoldo López. The legislators met with Caracas Metropolitan Mayor Antonio
Ledezma, who is under house arrest, and will try to meet with the other
political prisoners. (El Universal, http://www.eluniversal.com/nacional-y-politica/150722/spanish-senators-to-visit-mayor-ledezma)
UN welcomes
Venezuela's human rights plan
The representative of the United Nations
Development Program (UNDP), Niky Fabiancic, welcomed the decision of the
Venezuelan government to prepare a draft Human Rights National Program, which he
called "a great opportunity, as a
call to peace, to dialogue," and invited the Venezuelan people to take
part in that effort and make their comments and suggestions. (El
Universal, http://www.eluniversal.com/nacional-y-politica/150722/un-welcomes-venezuelas-human-rights-plan)
Venezuelan National
Assembly deplores Spain's "gag law"
The Venezuelan National Assembly passed a draft
agreement rejecting a new Spanish Citizen Security Law, labeled by its
opponents as "gag law" and in force since July 1. The bill was passed
with only the votes of the pro-government majority. (El Universal, http://www.eluniversal.com/nacional-y-politica/150722/venezuelan-national-assembly-deplores-spanish-gag-law)
Venezuela arrests 2 military officers for drug trafficking
Two retired Venezuelan military officers sought
on drug trafficking charges have been arrested, authorities announced. An
anti-narcotics task force arrested former National Guard Capt. Vassyly
Villarroel Ramirez, according to a statement released by the Interior Ministry.
Ramirez has long been a wanted man. He was named in an Interpol alert and was
classified as a drug kingpin in 2013 by the U.S. Treasury Department. U.S.
officials say he has ties to Mexican and Colombian cartels and has been
involved with cocaine trafficking. The task force also arrested former National
Guard Lt. Robert Alexander Pinto Gil. The ministry accuses him of leading local
drug trafficking gangs. He previously escaped from prison. National Guard
commander Nestor Reverol said Tuesday that the two will be brought before the
courts soon. (New York Times, http://www.nytimes.com/aponline/2015/07/21/world/americas/ap-lt-venezuela-drug-arrests.html?ref=americas&utm_source=Sailthru&utm_medium=email&utm_term=%2AMorning%20Brief&utm_campaign=New%20Campaign&_r=0)
The following brief is a synthesis of the news
as reported by a variety of media sources. As such, the views and opinions
expressed do not necessarily reflect those of Duarte Vivas & Asociados and
The Selinger Group.
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