Venezuela in Data Denial After Inflation Tops 50%: Andes Credit

Venezuela’s economic distress is so acute that the central bank stopped releasing regular statistics for the first time ever, threatening to increase borrowing costs further as the nation faces $10 billion of financing needs.

“This is not the right way to manage macroeconomic data,” Benjamin Wang, a money manager at PineBridge Investments LLC, which oversees $5 billion of emerging-market debt and holds Venezuelan bonds, said by telephone from New York. “There’s no transparent data to measure the risk.”