This week, the United States Treasury Department placed sanctions on three Venezuelans - Pedro Martin, Walter Del Nogal, and Mario Rodriguez - under the Foreign Narcotics Kingpin Designation Act. The move comes less than two weeks before presidential elections are scheduled in Venezuela.
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The Central Bank of the Argentine Republic (BCRA) has raised its key rate by a massive 12.75 percentage points since April 27 in an effort to shore up the exchange rate of the peso and force down inflation that is far in excess of the government's target for 2018 of 15 percent.
Chile's central bank left its monetary policy rate at 2.50 percent and said its board "foresees that it will keep the monetary stimulus at its current level until macroeconomic conditions tend to consolidate the convergence of inflation towards 3%."
After failing to receive the appropriate economic information from the Venezuelan government, the International Monetary Fund (IMF) issued a declaration of censure against Venezuela.
The decision to recognize the People’s Republic of China means that Taiwan, also known as the Republic of China, now only has formal relations with 19 countries. Panama switched recognition from Taiwan to China last November.