Pursuits
World Hangs Up on Venezuela as Phone Companies Can’t Pay
- Telecom providers struggle to pay in dollars for connections
- Maduro blocks price increases, squeezing phone carriers
Venezuela Lets Bolivar Depreciate 88% on New Sicad II Market
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Already facing shortages of food and medicine, Venezuelans are at growing risk of being cut off from the rest of the world as the inability to get ahold of foreign currencies threatens access to phone calls and even websites abroad.
Wireless operators Telefonica SA and Corp. Digitel CA have already suspended roaming services and international calls out of Venezuela after failing to extend payment terms with foreign phone companies. Prices have been rising for internet service, and even consumers who can pay often struggle to get working connections because of fraying infrastructure and outdated equipment.