Venezuela Economy

Vehicle cannibalism on the rise in Venezuela

Due to the shortage of car parts and supplies, many Venezuelans can no longer afford to drive and have turned to alternative means of transportation.

Venezuela launches new cryptocurrency 'petro'

President Nicolas Maduro says Venezuela has received $735 million in the first day of a pre-sale of the country's digital currency aimed at pulling the country out of an economic tailspin.

The Venezuelan resistance continues as more die in deadly protests

With close to 40 people dead in almost 40 days of violent political unrest, the opposition to President Maduro shows no signs of abating. Now an opposition leader says some groups within the military are withdrawing support from Maduro.

Venezuela: From prosperity to chaos

Once the most prosperous country in Latin America, Venezuela has descended into chaos because of its excessive reliance on oil.

Venezuelan congress passes law to speed up recall referendums

Venezuela's opposition-backed congress approves new law to speed up process of recall referendums to overthrow President Maduro