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Venezuela

After the Venezuelan government announced its intention to devalue its bolívar currency late last week, the 32-percent shift in its exchange rate—from 4.3 to 6.3 bolívars to the dollar—went into effect yesterday.

Leaders of the Primero Justicia (Justice First—PJ) opposition party in Venezuela vigorously rejected claims of corruption yesterday, after National Assembly President Diosdado Cabello accused three of its members of such on Tuesday and the Assembly summarily agreed to open an investigation to look into the charges.

Thousands of members of both Hugo Chávez’ Partido Socialista Unido de Venezuela (PSUV) and the opposition are marching in Caracas today in simultaneous demonstrations since January 23 marks the end of Venezuela’s 1945-1958 military dictatorship.

How long can the Venezuelan economy resist a major economic readjustment?

Top stories this week are likely to include: Cubans apply for foreign visas; Nicolás Maduro, Diosdado Cabello and Latin American leaders visit Chávez in Havana; Cristina Fernández de Kirchner travels to Asia; and Barack Obama begins his second presidential term.

Though Venezuelan President Hugo Chávez will not be present, Uruguayan President José Mujica, Bolivian President Evo Morales, and Nicaraguan President Daniel Ortega will be in Caracas today for the Venezuelan leader’s intended—and now postponed—inauguration.

The Venezuelan Catholic Church said on Monday that President Hugo Chávez must attend his inauguration when his term ends on Thursday.

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