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[1/2] A couple who bought a television on sale had their motorcycle towed while shopping in a store during Black Friday sales, in Caracas, Venezuela November 25, 2022. The government allows banks to lend only 27% of their total cashflow, rendering credit cards largely useless as prices balloon on annual inflation of more than 300%. "Consumer credit has died in Venezuela," said Luis Vicente Leon, director of consulting firm Datanalisis, calling credit limits "ridiculous." "The economy needs consumption to be more dynamic," said Gustavo Valecillos, president of the Consecomercio retailers guild, adding layaway helps move inventory. I paid half and the rest in two installments," said construction worker Juan Vegas as he left a shoe store in Caracas.

Persons: Leonardo Fernandez Viloria, Nicolas Maduro, Ernesto Urdaneta, Urdaneta, Betsy Perez, Luis Vicente Leon, Pedro Vallenilla, Ecoanalitica, Gustavo Valecillos, Juan Vegas, Mayela Armas, Mariela Nava, Tibisay Romero, Julia Symmes Cobb, Emelia Sithole Organizations: Black, REUTERS, Thomson Locations: Caracas, Venezuela, CARACAS, Latin America, Maracaibo, Valencia, Banks

But by January of this year, faced with rising rent, increased taxes and financing constraints, he closed it down. The government of Nicolas Maduro relaxed currency controls in 2019, allowing more transactions in dollars despite U.S. sanctions. The move led to a slight recovery in 2021 and 2022 after eight years of economic collapse and the migration of some 7.3 million Venezuelans. 'NO BUYING CAPACITY'Other businesses which have survived said they were slashing prices, salaries and profit margins to stay afloat. "Structural economic problems like scarce credit, an absence of recovery in public utilities, among others, were not resolved."

Persons: Enrique Perrella, Nicolas Maduro, Maduro, Yaner Fung, Fung, Ecoanalitica, Jesus Palacios, Migdalia Uviedo, Ivan Puerta, restaurateurs, Giulio Gallucci, Mayela Armas, Keren Torres, Tibisay Romero, Johnny Carvajal, Julia Symmes Cobb, Vivian Sequera, Rosalba O'Brien Organizations: Venezuelan Finance Observatory, Retailers, Restaurants, Thomson Locations: CARACAS, Caracas, Barquisimeto, Valencia, Ecoanalitica, Mexican

CARACAS, July 17 (Reuters) - The families of Venezuelan migrants lost in the Caribbean sea are demanding their government investigate the disappearance of their loved ones after years of stasis. In Aruba, migrants must scale rocky outcrops of up to four meters high and many fail, drowning as a result they said, though bodies have not been found. There are no investigations in Aruba or Curacao into the whereabouts of Venezuelan migrants missing during sea crossings, an official with knowledge of the matter told Reuters. "We went to Caracas to look for answers," said Ana Arias, a 43-year-old housewife whose daughter Luisannys Betancourt went missing on a boat journey in April 2019. Reporting by Vivian Sequera in Caracas, Tibisay Romero in Valencia and Mircely Guanipa in Maracay Writing by Oliver GriffinOur Standards: The Thomson Reuters Trust Principles.

Persons: Jhonny Romero, Romero, Jhonny de Jesus, Shalick Clement, Ana Arias, Luisannys Betancourt, Luisannys, Carolina Bastardo, Ana Maria, We've, Vivian Sequera, Tibisay Romero, Mircely, Oliver Griffin Organizations: United Nations, International Organization for Migration, UN, Reuters, Boat, Caribbean Coast Guard, Thomson Locations: CARACAS, Venezuela's, Caribbean, Trinidad and Tobago, Aruba, Curacao, Caracas, Africa, Europe, Colombia, Panama, Venezuelan, Grenada, Valencia

☆ Venezuelans say credit cards that were once lifeline now 'useless'
▼ + stars: | 2023-02-13 | by ( Mayela Armas | ) www.reuters.com time to read: +4 min

"They are useless," administrator Lina Pereira, from the central city of Valencia, said of her two credit cards, which both have low limits. "My parents bought appliances and computers with their credit cards, but that's a memory for Venezuelans." As incomes have fallen and living costs have grown, credit cards have become vital for many people to make everyday purchases in supermarkets and pharmacies, even as credit limits stagnate and some banks eliminate the cards altogether. In 2012 that figure was 12% in Venezuela, while in countries like the Dominican Republic and Bolivia credit cards currently account for 5% of banks' credit portfolios, according to those country's regulators. "With the limit on cards you can't even pay for lunch," said Gregorio Afonso, a 53-year-old university professor who has two local credit cards and an income of $20 monthly.

☆ Exclusive: Iran to start revamp at Venezuela's largest refining complex within weeks - sources
▼ + stars: | 2023-02-03 | by ( Mircely Guanipa | ) www.reuters.com time to read: +6 min

The companies are now expected to sign in the coming weeks a 460-million-euro contract to revamp the 955,000-bpd Paraguana refinery complex on the coast of western Venezuela, according to the sources. Iran's Foreign Minister Hossein Amirabdollahian arrived in Caracas on Friday and met Venezuela's oil minister Tareck El Aissami, according to tweets from the Iranian embassy in Caracas and Venezuela's oil ministry. PDVSA, NIORDC and Venezuela's oil ministry did not reply to requests for comment. A QUARTER OF CAPACITYA project to restore the complex's dilapidated power supply is also planned as part of the revamp, according to the sources. During the El Palito revamp, PDVSA sent home hundreds of Venezuelan workers to make way for the Iranian technicians, which triggered protests.

[1/2] An oil tanker is docked while oil is pumped into it at the ships terminal of PDVSA's Jose Antonio Anzoategui industrial complex in the state of Anzoategui April 15, 2015. It reinforces measures implemented last year after several buyers skipped out on payments for oil, which provides most of the South American country's income. After taking the helm, Tellechea launched an extensive audit of supply contracts, according to a written order to PDVSA seen by Reuters. The new terms narrow a wide variety of contract modalities to a few requiring prepayment of cargoes entirely in cash or allowing payment via goods and services to Venezuela, but they must be received before Venezuela will release the oil, according to the documents. Even long-term buyers must abide by the new rules that require payment in full by cash before each oil delivery.

☆ Venezuela public sector workers march for better salaries
▼ + stars: | 2023-01-23 | by ( ) www.reuters.com time to read: +2 min

[1/5] A demonstrator holds a placard that reads "Together for a living salary", during a march by teachers, health workers, workers' unions members and members of the opposition to demand better salaries, as the government of President Nicolas Maduro faces renewed challenges in its attempt to fight inflation, in Caracas, Venezuela January 23, 2023. REUTERS/Leonardo Fernandez ViloriaCARACAS, Jan 23 (Reuters) - Hundreds of public sector workers including teachers, nurses and retired police officers took to the streets in Venezuela on Monday to demand better salaries and pensions at a time when the government of President Nicolas Maduro faces growing inflation. Workers in Venezuela's education and health sectors have held three peaceful demonstrations in a dozen cities so far this year to demand more money. In Maracaibo, the capital of the once-powerful oil-rich Zulia state in northwestern Venezuela, protesters marched to the governor's office. "With a (monthly) salary of just $10 it's impossible for a family of four or five people to survive," Jimenez, 56, said.

☆ Venezuelan teachers march for better pay amid sky-high inflation
▼ + stars: | 2023-01-16 | by ( ) www.reuters.com time to read: +2 min

Jan 16 (Reuters) - Teachers, retirees and workers' unions marched in at least six Venezuelan cities on Monday to demand better salaries, as the government of President Nicolas Maduro faces renewed challenges in its attempt to fight inflation. The minimum monthly salary for a public school teacher is about $10, while university professors earn between $60 and $80. I earn 460 bolivars a month (about $23)," said Odalis Aguilar, a 50-year-old teacher who marched in the city of Maracay. In the central state of Carabobo, teachers and public employees also held demonstrations, saying salaries do not cover the cost of food and medicine. Over the weekend the government paid public employees a bonus equivalent to $29.80.

REUTERS/Jorge Silva/HOUSTON, Jan 5 (Reuters) - Venezuela's oil exports last year declined due to infrastructure outages, U.S. sanctions and rising competition in its key Asia market despite assistance from ally Iran, according to shipping data and documents. Iran expanded its role in Venezuela last year, sending supplies to boost exports and technicians to repair a refinery. Venezuela's crude production averaged some 721,000 bpd according to a preliminary data for December and OPEC reports. A U.S. license granted to Chevron Corp (CVX.N) to recover output and exports in Venezuela will take effect this year. A global appetite for fuel alternatives boosted its oil byproducts exports, which added millions of dollars last year.

[1/5] Drivers wait in line to get gasoline amid repeated outages at refineries operated by state oil company PDVSA and a lack of imports of diesel and gasoline, in Maracay, Venezuela, December 9, 2022. In 2020 and again in 2021, drivers had to line up for days to get gasoline and farmers halted work because of insufficient diesel. Right after midnight, the station ran out of gasoline," said Ramon Blanco, a 32-year-old who filled up the next day at another station. But lines also have reappeared in Falcon state, home of PDVSA's largest oil refineries. "We are trying our best because we are under pressure to restart some plants for producing gasoline," said a worker from Amuay.

☆ Venezuela flooding death toll rises after three perish near Maracay
▼ + stars: | 2022-10-18 | by ( ) www.reuters.com time to read: +1 min

Rescue team members help people to evacuate in the aftermath of devastating floods following heavy rain in the neighbourhood of Los Castanos, in Maracay, Aragua state, Venezuela October 18, 2022. REUTERS/Leonardo Fernandez ViloriaMARACAY, Oct 18 (Reuters) - Flooding in Venezuela's central Aragua state killed at least three people on Monday, adding to the death toll from weeks of intense rains, authorities said. Authorities said multiple families had to be rescued, and that a total of around 50 families were impacted. Heavy rains have killed dozens and left hundreds homeless in the state of Aragua in recent weeks. At least 54 people died in the town of Las Tejerias on Oct. 8 after heavy rains provoked mudslides that buried houses and businesses.

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