Data on the Venezuelan economy had been kept under wraps. But after roughly a decade of statistical silence — interrupted only occasionally by partial releases — the fog has begun to lift in recent weeks as the Central Bank of Venezuela (BCV) updates historical series on several key indicators. This measure is crucial amidst the economic recovery efforts undertaken by Delcy Rodríguez’s government since the U.S. military intervention. The newly published figures show that inflation reached 32% in January, 14.6% in February, and 13.1% in March. The year‑on‑year rate last month stood at 649.5%.

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At an elite club in northern Bogotá, some fifty Colombian investors listened last Tuesday to a statement that sums up Venezuela’s current economic situation better than any report. It was uttered by Ángel Cárdenas, infrastructure manager at CAF, the Development Bank of Latin America and the Caribbean: “Among investors in the region, the debate is no longer whether the country represents an opportunity or a risk. The question is whether or not you’ve already been to Caracas.” After years of freefall, the country with the world’s largest oil reserves has returned to the global radar.

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Colombian President Gustavo Petro and Venezuela’s acting president, Delcy Rodríguez, are preparing for a second attempt at holding a bilateral meeting. Petro announced that the two leaders are scheduled to meet in Caracas at midday on Friday — the first official visit by a head of state to Venezuela since Nicolás Maduro’s removal, and another step in Rodríguez’s consolidation of power.

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The Venezuelan government has reported the deaths of five inmates during a riot Monday at Yare III prison, located in a town in the Tuy Valley, outside Caracas. The confirmation from the Ministry of Penitentiary Services came a day after the incident, following a weekend in which relatives and human rights advocates had denounced irregularities at the prison.

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The Venezuelan parliament, controlled by the Chavista regime, on Thursday approved a new mining law that—just as with the hydrocarbons law—opens Venezuela’s mineral-rich subsoil to foreign capital. The approval of this 131-article law, which repeals the one enacted by former Venezuelan leader Hugo Chávez in 2013, took several sessions and had been under debate for weeks. It finally passed unanimously on the same day that the new Attorney General and Ombudsman were elected.

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