International Trade
Cargo that has arrived in Puerto Cabello:
- 30,000
tons of wheat from the USA
- 30,000 tons of sugar from
Brazil for state agency CASA
- 16.578 tons of chicken, beef,
milk and margarine, from Brazil for state agency CASA
More in Spanish: (Ultimas Noticias, http://www.ultimasnoticias.com.ve/noticias/actualidad/economia/llegan-a-puerto-cabello-30-000-toneladas-de-trigo.aspx#ixzz3j45d2SP6; El Nacional; http://www.el-nacional.com/;
El Mundo, http://www.elmundo.com.ve/noticias/economia/industrias/30-000-toneladas-de-trigo-arribaron-al-pais-proven.aspx)
Venezuela-Colombia trade is down 38% in the
first semester 2015, at US$ 769 million as opposed to US$ 1.235 billion during
the same period last year - a 38% drop. More in Spanish: (El Mundo, http://www.elmundo.com.ve/noticias/economia/internacional/comercio-entre-venezuela-y-colombia-cayo-38-.aspx#ixzz3imksF245)
Oil &
Energy
Venezuela oil price falls to just US$ 2.50 off 2015
low
Venezuela's weekly oil basket price fell to within US$2.58
of its 2015 lows as oil prices slipped in international markets on economic
worries about China, a nuclear deal that would allow Iran to sell more oil, in
addition to a U.S. market remaining amply supplied. According to figures
released by the Ministry of Energy and Petroleum, the average price of
Venezuelan crude sold by Petroleos de Venezuela S.A. (PDVSA) during the week
ending August 14 was US$ 41.40, down US$ 1.65 from the previous week's US$ 43.15.
(Latin American Herald Tribune, http://www.laht.com/article.asp?ArticleId=2394525&CategoryId=10717;
Veneconomy, http://www.veneconomy.com/site/index.asp?ids=44&idt=45079&idc=4)
Venezuela imports 3 million barrels of petrol per
month
An internal report from state oil company PDVSA shows Venezuela
is importing 2.5-3 million barrels of heavy petrol each month from Caribbean
facilities and dealer firms, to be used to dilute extra-heavy crude oil. More in Spanish: (El País, http://www.elpaisonline.com/index.php/2013-01-15-14-16-26/internacional/item/182934-venezuela-importa-3-mm-de-barriles-de-nafta-mes;
El Mundo, http://www.elmundo.com.ve/noticias/petroleo/industria/venezuela-importa-entre-2-5-y-3-millones-barriles.aspx)
Commodities
Allocating food product sales according to the last
digit of customer’s ID card began again in all the establishments of the government
distribution network: MERCAL; Abastos Bicentenario, and PDVAL. (Veneconomy, http://www.veneconomy.com/site/index.asp?ids=44&idt=45087&idc=3)
Alimentos POLAR’s installations have received
over 293 inspections by
government agencies to date this year. There have been an average of 36
inspections per month. POLAR’s Legal Affairs Manager Mayela Rojas said “the frequency and degree of demand of these
visits have intensified as of August 7 to the point of harassment.” (Veneconomy,
http://www.veneconomy.com/site/index.asp?ids=44&idt=45076&idc=3)
Economy
& Finance
Underlying inflation was
213.2% over the last 12 months, according to studies by the ECOANALÍTICA think tank. June inflation
was 16.1%, the second highest this year. More in Spanish: (El Nacional; http://www.el-nacional.com/)
Credit card use is up 132.7% due to higher
inflation that is depreciating basic income. The Bank Superintendent's
office reports a 416% increase since 2005. More in Spanish: (Notitarde; http://www.notitarde.com/Economia/Uso-de-las-tarjetas-de-credito-aumento-1327/2015/08/16/590502/)
Central Bank opens bid for banknote paper as
paper money shortages are reported
The Central Bank (BCV) has announced it is opening
a bid to all those companies interested in supplying banknote paper for printing
new Bs.50 and Bs.100 bills. The country has recently been hit by a shortage of
bills, mainly VEF 100 notes, and some banks restricted the number of bills
handed to their clients cashing in checks or withdrawing from their accounts. The
public envelope reception and opening will be held next October 9. (Veneconomy, http://www.veneconomy.com/site/index.asp?ids=44&idt=45078&idc=2; El Universal, http://www.eluniversal.com/economia/150815/on-the-current-shortage-of-paper-money)
The Central Bank has limited
the amount of cash available for ATM and credit card withdrawals to VEB 3,000, down from VEB 5,000.
More in Spanish: (Diario 2001, http://www.2001.com.ve/con-la-gente/106882/banco-de-venezuela-reduce-el-limite-de-retiros-en-efectivo-.html;
El Nacional; http://www.el-nacional.com/)
Central Bank to finally publish official data
After an eight-month hiatus, the Central Bank here
(BCV) will soon publish its monthly report, according to an off-the-record
source close to the institution. (Veneconomy, http://www.veneconomy.com/site/index.asp?ids=44&idt=45077&idc=2)
Politics and
International Affairs
Support for
Venezuela’s socialists slides to 19% ahead of vote
Less than a fifth of Venezuelan voters are
planning to support candidates aligned with the ruling socialist party in
congressional elections scheduled for later this year. The United Socialist
Party of Venezuela, or PSUV, is backed by 19.2% of people ahead of the Dec. 6
election, according to a survey conducted by Caracas-based polling company
DATANALISIS between July 10 and 23. Support for the party of President Nicolas
Maduro has fallen by almost two percentage points since May as declining oil
revenue exacerbates product shortages and inflation. Support for the candidates
of the opposition alliance and independents rose to 54% in July from 50.1% in
May, according to the poll. Maduro’s support fell by 1.5 percentage points to
24.3% in July, the lowest since January, the survey showed. The poll of 999
households had a margin of error of three percentage points. DATANALISIS
estimates that 52% of the electorate will participate in the vote. The polling
company’s president, Luis Vicente Leon, said last month that abstention favors
the government because it has more money, resources and media access to
motivate core supporters. (Bloomberg: http://www.bloomberg.com/news/articles/2015-08-14/support-for-venezuela-s-socialists-slides-to-19-ahead-of-vote;
Latin American Herald Tribune, http://www.laht.com/article.asp?ArticleId=2394530&CategoryId=10717)
Opposition presents
united front in parliamentary elections
The opposition Democratic Unity Conference
(MUD) coalition has presented a unified campaign command called "United Venezuela" under its
Secretary General, Jesús Torrealba. Its "executive group" will include leaders of Acción Democrática
(AD), Primero Justicia (PJ), Un Nuevo Tiempo (UNT), and Voluntad Popular (VP). The "strategy
group" includes Miranda Governor and two time Presidential candidate
Henrique Capriles, along with the governors of Amazonas and Lara states, a
"personal representative" of imprisoned Metropolitan Caracas Mayor Antonio
Ledezma, former legislator María Corina Machado and National Assembly member
Andrés Velázquez. More in Spanish: (Infolatam, http://www.infolatam.com/2015/08/17/oposicion-venezolana-presenta-comando-de-campana-unificado-para-legislativas/)
673 out of 1012 new polling centers are in
pro-government installations
The opposition
Democratic Unity Conference (MUD) and the Catholic University Political Studies
Center have detected several irregularities in an audit of electoral plans,
among them it has been revealed that 673 of the new 1012 polling centers created
by the National Elections Council are not located at schools or government
buildings, but in communes, unfinished housing projects and shanties controlled
by the pro-government gangs. These new voting centers are 7.4% of total
registered voters. More in Spanish: (El Nacional; http://www.el-nacional.com/)
Six states hold 52% of
registered voters
The outcome of the parliamentary voting next
December 6 will be conditioned by the imbalance between the number of voters
enrolled in Venezuelan states and the number of parliamentarians to be elected
in those states. Venezuelans will choose 113 candidates by name; another 51
will be elected by the vote issued by the ballots of political parties in 23
states and the Capital District, and three indigenous representatives will get
to the National Assembly by means of lists in three special constituencies. (El
Universal, http://www.eluniversal.com/nacional-y-politica/150815/six-venezuelan-states-accumulate-52-of-the-register-of-voters)
Foreign Minister tells
Kerry relations with the US must be grounded on mutual respect
Venezuela's Foreign Minister Delcy Rodríguez told
US Secretary of State John Kerry, to stop "interventionist
intentions" against Venezuela. Kerry had said that Venezuela's situation
was "very problematic", and
had noted that that if Venezuelan authorities do not allow credible
international observers and do not release political prisoners before the
December 6 parliament vote "it would
have a serious impact" on US relations with Venezuela. Kerry added
that the US would analyze the vote "very
carefully." (El Universal, http://www.eluniversal.com/nacional-y-politica/150817/venezuelan-fm-relation-with-the-us-must-be-grounded-on-mutual-respect)
Venezuela to present
Essequibo claim at Mercosur Parliament
A delegation of Venezuelan deputies will attend
the 33rd Regular Meeting and Special Meeting of the Parliament of the Common
Market of the South (Mercosur) (Parlasur), held in Montevideo, Uruguay from
Sunday, August 16, through Tuesday, August 18. The parliamentarians will
present an agreement concerning Venezuela's claim against Guyana over the
Essequibo territory, informed the Venezuelan National Assembly in a press
release.
The speaker of Parlasur, Venezuelan Deputy Saúl
Ortega, commented that the Venezuelan delegation will explain how the
government of Guyana, along with imperialist factors, seeks to take over that
territory, disregarding Venezuela's sovereignty. He added that a unanimous
resolution in support of Venezuela was expected. (El Universal, http://www.eluniversal.com/nacional-y-politica/150817/venezuela-to-present-essequibo-claim-at-mercosur-parliament)
Maduro traveled to Cuba for Fidel Castro's 89th
birthday
President Nicolás Maduro and First Lady Cilia
Flores have traveled to Havana to join 89th birthday celebrations for Cuba's
revolutionary leader Fidel Castro. Bolivia´s
President Evo Morales is also taking part in the events. More in Spanish: (El
Universal; http://www.eluniversal.com/nacional-y-politica/150814/maduro-viajo-a-cuba-para-celebrar-los-89-anos-de-fidel-castro)
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.
