Courtesy of: EFE

This week: Henrique Capriles arrives in Chile to meet with President Sebastián Piñera, as well as other ruling party leaders and the Venezuelan community in Santiago; Human Rights Watch says Venezuela should guarantee the right of free speech of its own citizens before offering to defend Edward Snowden; U.S. Secretary of State John Kerry tells Venezuelan Foreign Minister Elías Jaua that Washington will halt all refined-oil sales if Snowden takes refuge in Venezuela; and Nicolás Maduro fumes after U.S. envoy to the United Nations criticizes Venezuela’s regime as “repressive.” Annual inflation reaches 39.6 percent, far exceeding the government’s stated goal of 14 – 16 percent; purchasing power declines 10 percent as a result of rising inflation; and the Venezuelan government recognizes scarcity of dollars as a big problem, but only takes tepid steps to solve it. The devaluation of the bolívar is complete with the Central Bank’s auction of dollars, doubling the exchange rate; a new Fitch Ratings report confirms that the country’s foreign exchange policy continues to face challenges; and Maduro marries his longtime companion and prominent PSUV figure, Cilia Flores.

Capriles arrives in Chile; confirms appointment with Sebastián Piñera, El Universal

Venezuelan opposition leader Henrique Capriles arrived in Chile on Wednesday in the first leg of a tour that will also take him to Peru. He confirmed that he will meet with President Sebastián Piñera, without specifying the time or place. “It is not important whether we will talk at La Moneda Palace, the seat of the Chilean government, or elsewhere,” Capriles told reporters at the airport of Santiago.

Human Rights Watch: Snowden should steer clear of Venezuela, Salon

If US whistleblower Edward Snowden takes refuge in Venezuela he might quickly wish he hadn’t. At least that’s the verdict of Chilean lawyer Jose Miguel Vivanco, who heads the Americas division of Human Rights Watch, the New York-based advocacy group.

Kerry said to give stern warning to Caracas on Snowden, UPI

Washington is reported to have warned Caracas it would be barred from entering any NATO airspace if it flies U.S. secrets leaker Edward Snowden to Venezuela. Secretary of State John Kerry, who Spanish newspaper ABC said made the warning to Venezuelan Foreign Minister Elias Jaua, also said Washington would halt all sales of vital gasoline and other refined-oil products to Venezuela if Snowden gets refuge in that country, the newspaper said.

Venezuela slams U.S. over ‘repressive regimes’ remarks, Reuters

Venezuelan President Nicolas Maduro demanded the United States apologize on Thursday after the Obama administration’s nominee for envoy to the United Nations said there was a crackdown on civil society in the South American country.

Venezuela Inflation at 39.60%, Latin American Herald Tribune

The inflation rate for the month of June was at 4.7%, lower than that of May’s 6.1%, according to the Venezuelan Central Bank. This brings the rate of inflation for just the first half of 2013 to a total of 25% and the annualized rate at 39.6% — far from the Venezuelan government’s stated goal of keeping it between 14% and 16%.

Purchasing power down 10% due to inflation, El Universal

Venezuela’s minimum wage was increased by 20% on May 1 to USD 390, yet soaring prices have made such increase lose strength rapidly. In May-June this year, inflation shot up reducing purchasing power by 10%.Data from the Central Bank of Venezuela (BCV) indicates that since May 1, prices have swollen 17% in the case of food, 11.2% in transport, and 9% in clothing.

Venezuela: let there be dollars, Financial Times

The Venezuelan toilet paper shortage story says a lot about economic management in a country where the greenback fetches five times its official value on the parallel market. While Venezuelans have struggled to get their hands on everything from loo roll to toothpaste, authorities have been in denial about the grinding liquidity crunch that makes ordinary life – and business life – a daily struggle.

BCV sells US dollars at VEB 10.9 and VEB 11.7 in Sicad auction, El Universal

Devaluation of the bolivar was completed upon the auction sale of US dollars conducted by the Central Bank of Venezuela (BCV) through the Ancillary Foreign Currency Administration System (Sicad), where the exchange rate doubled that of VEB 5.30 per US dollar at its predecessor, the Transaction System for Foreign Currency Denominated Securities (Sitme).

Fitch: Venezuela’s Foreign Exchange Policy Faces Challenges, Reuters

Venezuela’s foreign exchange (FX) policy adjustments in 2013 could reduce fiscal imbalances and limit the need of continued external debt issuance. However, the room to stabilize creditworthiness could be constrained by weaker external buffers, limited upside for oil revenues and non-debt capital inflows, a rapidly decelerating economy, and political changes, according to a new Fitch Ratings report.

Venezuelan President Marries Longtime Companion, Wall Street Journal

Venezuela’s President Nicolás Maduro said on Tuesday that he had married his longtime companion, Cilia Flores, a prominent ruling party figure. Mr. Maduro, speaking during a cabinet meeting broadcast on state television, said the small ceremony was held Monday and was conducted by Jorge Rodríguez, a Caracas-area mayor.