Daily Telegraph: Seven charts showing why Venezuela’s economy is a basket case

chartThe country’s inflation rate is no better, with official figures putting the number at 64pc. However, according to Robert Bottome, publisher of VenEconomy Weekly, it is 100pc and Russ Dallen of Caracas Capital Markets says it is 120pc.

 

http://www.telegraph.co.uk/news/worldnews/southamerica/venezuela/11385055/Seven-charts-showing-why-Venezuelas-economy-is-a-basket-case.html

Maduro’s Qatar-to-China tour fails as oil rout deepens

“It was a surprise that he went on tour with such short notice, but the results have been unsurprising,” Russell Dallen, Miami-based managing partner at Caracas Capital Markets, said in a telephone interview.

http://www.dailystar.com.lb/Business/International/2015/Jan-17/284379-maduros-qatar-to-china-tour-fails-as-oil-rout-deepens.ashx?utm_source=Magnet&utm_medium=Entity%20page&utm_campaign=Magnet%20tools

CNN en Espanol: Venezuela carece de mucho más que las papas fritas de McDonald’s

“El país está implosionando”, dice Russell Dallen, socio administrativo de Caracas Capital Markets, una compañía con sede en Miami que se especializa en valores latinoamericanos. “Venezuela no podría pagar sus deudas con el costo del petróleo a 100 dólares el barril y, definitivamente, será mucho más difícil que las pague con el precio actual de 40 dólares el barril”.

Venezuela no vende lo suficiente de su petróleo para cubrir su deuda, dice Dallen. Aunque Venezuela produce alrededor de 2,3 millones de barriles de petróleo al día, los venezolanos consumen la tercera parte de esa cantidad y casi no pagan nada por ella. Aunque el país también envía una gran cantidad de petróleo a China, el ingreso, casi en su totalidad, sirve para pagar las deudas anteriores, según indicó Dallen.

http://cnnespanol.cnn.com/2015/01/17/venezuela-carece-de-mucho-mas-que-las-papas-fritas-de-mcdonalds/

 

CNN: Venezuela lacks a lot more than McDonald’s French fries

“The country is imploding,” says Russell Dallen, managing partner of Caracas Capital Markets, a Miami-based firm that specializes in Latin American securities. “Venezuela couldn’t pay its bills at $100 a barrel of oil and it’s darn sure going to have a hard time paying them at $40 a barrel of oil.”

Venezuela does not sell enough of its oil to cover its debt, Dallen says. Although Venezuela produces about 2.3 million barrels of oil a day, Venezuelans consume a third of that and pay almost nothing for it. While the country also sends a lot of oil to China, it’s almost entirely to pay off previous debts, according to Dallen.

The South American nation has $11 billion in debt payments this year. The critical moment will come in October, experts say, when about $5 billion is due. Maduro has not asked the International Monetary Fund or World Bank for financial help.

http://money.cnn.com/2015/01/16/news/economy/venezuela-nears-default/

Washington Post: Maligned Dollar Flourishes in Venezuela

“Essentially, they’ve hit a plateau, and Venezuela’s oil production hasn’t gone up,” said Russell Dallen, head trader at Caracas Capital Markets and a longtime student of Venezuela’s economy. “What that really means is that Venezuela doesn’t have enough dollars to pay for all the things that they need to pay with dollars.”

https://www.washingtonpost.com/world/the_americas/maligned-dollar-flourishes-in-venezuela/2013/05/16/7ce637fc-bdbc-11e2-b537-ab47f0325f7c_story.html?utm_term=.48f4d513efce

Il piano di Maduro per rilanciare il Venezuela

PDVSA bldgIl terzo è lo spettro di un default. Il Venezuela vende ogni giorno 640mila barili al giorno alla Cina, a prezzo privilegiato per poter ripagare almeno gli interessi dei 40miliardi di dollari che Pechino ha investito in Venezuela dal 2008 a oggi.Per questo, secondo Russell Dallen, analista americano di “Caracas Capital Markets”, nei prossimi cinque anni vi è il 65% di probabilità che Venezuela non sappia fronteggiare i propri debiti.

http://www.ilsole24ore.com/art/notizie/2014-02-05/il-piano-maduro-rilanciare-venezuela-203957.shtml?uuid=AB9eZiu

CNN en Espanol: Por qué los “chavistas” votarían por Obama

“Estados Unidos sigue siendo el único cliente real que paga en efectivo y el precio completo”, dijo Russ Dallen, jefe operador de Caracas Capital Markets, en Caracas. “Puede que Romney quiera utilizar esa influencia para dejar de subvencionar una espina que tiene clavada Estados Unidos”.

Dallen añade que Venezuela, o por lo menos el gobierno de Chávez, necesita que los precios del petróleo se mantengan altos, y Obama podría ser una apuesta más segura para ese escenario. “Obama está más dispuesto a tolerar los altos precios de la gasolina porque la gasolina, a 4 dólares el galón, provoca que las personas estén más dispuestas a invertir en tecnologías alternativas y que esas tecnologías sean más rentables”.

http://cnnespanol.cnn.com/2012/10/25/por-que-los-chavistas-votarian-por-obama/

Reuters: Venezuela’s PDVSA plans to issue $3 billion bonds

latam-moneyRussell Dallen, head trader at Caracas Capital Markets in Venezuela, said the new PDVSA issue should be as attractive for investors, as the other two.

“The indications are that they are willing to put it out there cheaply,” he said.

Last week’s issue was “a gift” for buyers, Dallen said.

“Simply put, there is no other place to go in the international credit markets to find a similar credit profile and get those kind of 13 percent yields,” he said.

http://in.reuters.com/article/venezuela-pdvsa-idINN1320603120091013?sp=true