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Financial Crisis

Venezuela’s ex-spy chief promotes possible presidential bid

CARACAS, Venezuela (AP) — A former spy chief under the late leader Hugo Chavez is emerging as a political player in turbulent Venezuela, mistrusted by the opposition and despised by the government as he travels the country in a possible bid for the presidency. Miguel Rodriguez Torres is a longshot …

Zimbabwe marks 37 years of independence amid economic crisis

HARARE, Zimbabwe (AP) — Zimbabwean President Robert Mugabe has marked the country’s 37th anniversary of independence with a call for tranquility even as the economy has collapsed to the point where livestock is being accepted in place of cash. The 93-year-old Mugabe broke his tradition of walking the 100 meters …

Venezuela debuts new banknotes amid soaring inflation

CARACAS, Venezuela (AP) — Venezuelans stood in long ATM lines Monday to take out new, larger-denominated bills that President Nicolas Maduro hopes will help stabilize the crisis-wracked economy. Maduro last month said he was scrapping circulation of the most used bill, the 100-bolivar note, and replacing it with new bills …

Egypt devalues, floats its currency, meeting key IMF demand

CAIRO (AP) — Egypt on Thursday took the unprecedented step of floating its currency and later hiked fuel prices, meeting key demands by the International Monetary Fund under a $12 billion loan agreement to overhaul the ailing economy of the most populous Arab state. The floatation, accompanied by a 48 …