It is an election year in Venezuela, and President Nicolás Maduro is determined to cling to power. His criminal alliances will be crucial for the survival of his regime.
Colombia has a vested interest in the potential of having a future democratic neighbor, and last week, we saw Washington lift sanctions on Caracas for six months.
CPI may yet go higher, obviously not to those seen on the streets of Caracas or Buenos Aires, but only Chile (13.3%) amongst the mainstream Latam economies has higher inflation.