Venezuela's food shortage by the end of February at 47.7%

State-owned food corporation and oil company Mercal and Pdvsa face shortage at 50%, research firm Datanálisis informed

EL UNIVERSAL

Monday March 17, 2014  10:47 AM

General food shortage in Venezuela has consistently exacerbated for 16 months. Shortage in regulated goods averaged 37.2% in 2013, up 21.3 percentage points with respect to 2012 figures.

In January-February 2014, shortage in regulated products hit 47.7%, rising 31.8 points as against 2012, and 10.5 points compared to 2013, according to Mystery Shopping, a research conducted by Datanálisis in seven distribution routes.

In 2011-2012, none of the categories went through more than 50% of shortage, whereas this year 33% of the goods face more than 70% of shortage.

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Prices up in gov't food network to prevent smuggling

Venezuelan Minister of Food Félix Osorio thinks that keeping prices without any variation is "vulgar"

ANGIE CONTRERAS C. |  EL UNIVERSAL

Thursday March 20, 2014  09:52 AM

Prices of the foodstuffs sold through Mercal, a network of food vendors under the aegis of the Venezuelan government, have risen "step by step" in the last year, with no formal announcement from the Executive Office.

As alleged by Food Minister Félix Osorio, rising prices has been a measure to curb outgoing smuggling of subsidized commodities.

The last "formal" hike of prices in the foodstuffs traded through Mercal network occurred in 2009.

In the minister opinion, keeping prices without any variation is "vulgar."

Osorio downplayed the claims of production problems in Venezuela and attributed imports to a larger demand.

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Venezuela's Sicad 2 insufficient to meet public sector demand

JP Morgan does not rule out an adjustment in the forex rate of the National Center for Foreign Trade from VEB 6.30 to VEB 8.40 per US dollar

MAYELA ARMAS H. |  EL UNIVERSAL

Thursday March 20, 2014  10:02 AM

The Venezuelan Government started the New Year with a deficit in its fiscal accounts, which has led to a revision to the foreign exchange policy, including the incorporation of the Second Ancillary Foreign Currency System (Sicad 2), whose forex rate is set to fluctuate. Nonetheless, the effects of the new architecture would not satisfy demand if authorities fail to cut down on public spending.

Although authorities have not explained how much foreign currency supply would rise with the new supplementary mechanism, income would not be enough to meet the needs of public institutions.

The director of research economic firm Ecoanalítica, Asdrúbal Oliveros, has outlined that "although income deriving from Sicad 2 operations could be useful, a policy aimed at reducing public expenditure and a reform of the country monetary policy are needed."

In his view, Oliveros asserts that the impact of devaluation on the supplementary forex system is subject to other actions. Unless measures are adopted, the system would fail.

Meanwhile, JP Morgan deems Sicad 2 could gradually flow. The firm estimates oil giant Pdvsa would allocate USD 5-10 billion out of its oil revenues. Moreover, JP Morgan projects bonds stock held by public institutions would account for USD 5.8 billion.

In a report the firm also expresses the need for further policies. In this context, it does not rule out an adjustment in the forex rate of the National Center for Foreign Trade, from VEB 6.30 to VEB 8.40 per US dollar.

Venezuelan association rules out suspension of flights by other airlines

Deputy reaffirms Venezuelan Government's will to advance in foreign currency matters

EL UNIVERSAL

Thursday March 20, 2014  11:36 AM

In an interview with radio station Unión Radio, the executive president of the Venezuelan Association of Airlines (ALAV), Humberto Figuera, ruled out that the suspension of Air Canada flights from and to Venezuela could lead to further suspensions by other airlines operating in the country.

Meanwhile, referring to the debt to international airlines, Congressman Claudio Farías (ruling PSUV) said during a session of the Venezuelan National Assembly that the Executive Office is willing to advance in foreign currency matters.

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Thirty-one slain in connection with Venezuelan demonstrations

The attorney general explained that 318 out of 461 people injured were civilians, whereas the remaining 143 casualties included police agents, military officers and Government officials

EL UNIVERSAL

Thursday March 20, 2014  12:03 PM

Venezuela's Attorney General Luisa Ortega Díaz has informed that since February 12, 31 people have been killed, 461 injured and 1,854 detained in events related to demonstrations in Venezuela.

In an official radio broadcast, Ortega outlined that 25 out of the 31 people killed were civilians whereas the other six included police agents, military officers and public prosecutors.

The attorney general added that 318 out of the 461 people injured were civilians. The remaining 143 casualties included police agents, military officers and Government officials, AVN reported.

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Venezuelan gov't exerts arbitrary control over Internet

At least 500 websites have been blocked in the country

DANIEL GONZÁLEZ CAPPA |  EL UNIVERSAL

Thursday March 20, 2014  01:19 PM

Blocks and attacks against Internet in Venezuela have been on the rise. As many as 500 websites are estimated to have been blocked.

Ricardo Holmquist, a representative for the Venezuelan Internet Society (ISOC), believes the number of websites arbitrarily blocked could be higher than 500 and particularly in connection with information about the unofficial forex rate, the health state of late President Hugo Chávez, and critiques against the Government.

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