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Venezuela's corrupt jockey for position

Solutions to Venezuela's miserable situation are, to put it decently, like belly buttons. This navel-gazing seems to be the pastime of choice of hasbeens, or batequebra'os as known in Venezuela. Rafael Ramirez, for instance, despite having squandered over one trillion USD, would like the world to see him as the potential saviour of Hugo Chavez's legacy, as if Venezuela hasn't suffered enough his corruption and the wretched chavista experiment. Then there's Luisa Ortega Diaz.

Acceleration of 2034 bond spells years of legal battles for already battered Venezuela

Ten days ago I had a conversation with a source, well versed on bonds stuff. He said a few institutional investors were going to court to trigger acceleration clause on the 2034 bond, for defaulting on payment. Today Reuters posted news about this, quoting a representative of a "group of creditors" (lawyer Mark Stancil with Washington DC firm Robbins Russell) seeking payment on $1.5 billion.

Transition in Venezuela? No chance.

There's a lot of talk lately about transition in Venezuela, given that Nicolas Maduro's term ends 10 January 2019. Most observers realised a long time ago the need to replace the chavista model, ideally with some kind of workable system of governance -controlled by the opposition- that could implement immediate changes to the economy, which in turn, considering the amount of oil reserves that Venezuela claims to have, would turn the country into a Mecca of foreign direct investment.

Venezuela Crisis: SDN / SSI PDVSA, then negotiate

Further to previous article about the kind of solution that could realistically be put in place to deal with Venezuela's crisis, perhaps it's worth expanding on strategy. Lots of people are thinking drones, or military invasions are the only way. But before the first Hellfire drops, OFAC should SDN / SSI PDVSA, and every subsidiary, including CITGO. Assets in the Caribbean and Nynas could be added for good measure.

Only a negotiated solution can solve Venezuela's crisis

Many years ago, when Venezuela wasn't notorious internationally for a chavista-made humanitarian crisis but for having a loquacious leader that broke protocol wherever he went, I argued in an article that, ultimately, the end of chavismo could only come about by offering some sort of amnesty, pardons, and compromise to some of the most hated chavista officials and boligarchs in the country. History contains many examples. Seldom peace has been achieved by waging war. Venezuelans are incensed, of course, by the current predicament, and no one in its right mind can hold that againt them.

No Hope For Venezuela

Venezuela is, again, in vogue. Is not Hugo Chavez calling George W. Bush names from an U.N. pulpit, but the actions of his Havana-picked heir, Nicolas Maduro. Maduro has all the power that Chavez... Let me rephrase: Maduro has more power than what Chavez could ever amass. Maduro has consolidated a narco trafficking, dictatorial, galloping kleptocracy and has vested himself, and his collaborators, with power quotas beyond democracy's and rule of law reach. Normal rules just don't apply to Maduro and his criminal organization. He can't be voted out, dismissed, impeached, or taken to court.

Odebrecht Gargantuan Corruption in Venezuela

A batch of official documents related to Odebrecht contracts in Venezuela has been leaked to this site. It is quite the task to recall similar corruption schemes, anywhere on earth. In short, Brazilian Presidents Lula da Silva and Dilma Rousseff, as well as the highest echelons of the ruling Workers Party, acted as pawns in a gargantuan corruption scheme set up by Odebrecht.

Default circles PDVSA

For the past three/four weeks I’ve noticed a spike in Google searches for corruption-related Venezuelan names and PDVSA. Some of the world’s biggest and best known banks and accounting firms seem all too keen, suddenly, of finding out what’s going in Venezuela. It could well be related to PDVSA’s announcement of a $7 billion bond swap. But it could also be due to some persistent rumours about impending legal cases against PDVSA that could all but obliterate the company’s ability to meet its current international financial obligations, let alone future ones.

[UPDATED] Brutality on unarmed civilians continues in Venezuela

"When you're not allowed to think for yourself, when you're not allowed to have, and voice, an opinion, insofar as such opinion is contrary to the diktats of the ruling party, you lose the only thing that makes us human. You become like an object in a meaningless life, and such life is not worth living. So I decided to rebel against that system and I had no fear of dying, for living in such condition was akin to being dead."

Is FTI Consulting’s LatAm Division Ever Going to be a Shareholder Concern?

Public companies trade on their earnings, management team, and in great part on their name. How the market perceives a company has the most impact on stock price. It follows that multinational corporations apportion considerate amount of resources to PR and brand-reputation protection. Wall Street history is littered with examples of what happens to a stock’s price when a company becomes embroiled in scandals, corporate malfeasance, or fraud.