GlobalSource Partners | Country Insights

The June 24 earthquakes are Delcy Rodríguez’s interim government’s first major operational test since assuming power in January of this year. The response has been opaque, slow, and heavily dependent on U.S. military and humanitarian cooperation, more visible than the Venezuelan Armed Forces them...

Economic impact of the earthquakes

VENEZUELA · Report · 02 Jul 2026 · 2 responses

The double earthquake of June 24, 2026, intensifies Venezuela’s economic crisis. The disaster struck a country with no fiscal space, no access to international financing, an electricity system operating at its limit, a fragile exchange rate regime, and a fractured payment system. It multiplies ex...

Oil tailwind switches course

VENEZUELA · Report · 23 Jun 2026 · 1 response

The reopening of the Strait of Hormuz has changed our outlook. The extraordinary oil windfall that sustained foreign exchange inflows during the first half of 2026 is starting to move in reverse, prompting us to revise our inflation and depreciation forecasts upward for the second half of this ye...

Moving forward without certainty

VENEZUELA · Report · 01 Jun 2026

The Delcy Rodríguez government is moving ahead with calculated pragmatism: freeing prisoners, reopening public space, and attracting oil investment, while keeping the instruments of political control intact—the Attorney General’s Office, the courts, and the repressive legal framework—and favoring...

Venezuela’s restructuring announcement: the right words, eloquent silences

VENEZUELA · Report · 15 May 2026

On May 13, the Venezuelan government formally launched its external debt restructuring process through a statement signed by Calixto Ortega, Vice President for the Economy. The same day, a Businesswire release announced that Centerview Partners will serve as financial advisor. The appointment of ...

Disinflation continues, exchange rate gap becomes entrenched

VENEZUELA · Report · 13 May 2026 · 1 response

Monthly inflation fell to 10.6 percent in April from 13.1 percent in March thanks to stronger oil revenues. Central bank forex sales rose, the market rate fell, the pace of official exchange rate depreciation slowed, and the exchange rate gap narrowed. Moreover, April brought an easing of sanctio...

Change in their own terms

VENEZUELA · Report · 28 Apr 2026

After nearly four months in office, the Rodríguez group has brought gain: stability in the immediate political environment, legal reforms to reshape the business climate for the oil and mining sectors, and progress toward a consensus on labor reform. These gains coexist, however, with persistent ...

The IMF as a starting point

VENEZUELA · Report · 17 Apr 2026

The formal restoration of relations between Venezuela and the International Monetary Fund (IMF) and the World Bank on April 16, 2026 marks an inflection point in the country's economic trajectory. Relations had been suspended in March 2019 over issues related to the recognition of Venezuela's gov...

Disinflation with friction

VENEZUELA · Report · 14 Apr 2026

Thanks to record foreign exchange sales of $1.047 billion, in March 2026, inflation slowed to 13.1 percent from 14.6 percent in February. The strong forex sales helped ease exchange rate pressures and narrow the gap between the official and market rates to 40.8 percent. But the increase in the In...

Managed calm

VENEZUELA · Report · 30 Mar 2026

It is becoming clear that the Trump administration’s primary objective for Venezuela is geopolitical stability. Stabilization is advancing, although not necessarily as a prelude to democratization. What is emerging is a mutually convenient arrangement between Washington and Rodríguez that could b...

The transition needs an anchor

VENEZUELA · Report · 18 Mar 2026

In February 2026, monthly inflation fell to 13 percent from January’s 32 percent. Driving this slowdown were fiscal tightening and more generous foreign exchange interventions. The doubling of the amount of dollars auctioned and the seasonal rise in tax collection made it possible to temporarily ...

A Turning Point

VENEZUELA · Forecast · 16 Mar 2026 · 1 response

The events of January 3, 2026 have served as a positive shock. The prospect of higher oil revenues and the gradual easing of sanctions temporarily stabilized the exchange-rate market and revived investor interest in oil, gas, and mining. That stabilizing effect is now fading. The foreign-exchange...

The ups and downs of the transition

VENEZUELA · Report · 04 Mar 2026

Two months after the January 3 break, Venezuela’s transition has unfolded without the collapse many expected, and Rodríguez’s government has delivered on its two most visible commitments: Hydrocarbons Law reform and the Amnesty Law. While both are tangible signals of political action, each does c...

Inflation under guardianship

VENEZUELA · Report · 18 Feb 2026 · 1 response

Inflation rebounded to 32 percent in January 2026 amid sharp forex volatility, reflecting the market rate surge in the first two weeks of the month. On January 7, the forex gap peaked at 179 percent before closing the month at 39 percent on announcements that outlined a more favorable outlook for...

A window of opportunity

VENEZUELA · Report · 03 Feb 2026

Venezuela is entering a phase of political redefinition following the violent outcome of January 3, 2026. Delcy Rodríguez, now interim president under the tutelage of the Trump administration, has laid out a three-stage plan: stabilization, reconstruction (and reconciliation), and democratic tran...