Venezuela is down to its last $10 billion

by
March 2, 2017

Venezuela ProtestsVenezuela only has $10.5 billion in foreign reserves left, according to its most recent central bank data.

For rest of the year, Venezuela owes roughly $7.2 billion in outstanding debt payments.

In 2011, Venezuela had roughly $30 billion in reserves. In 2015, it had $20 billion. The trend can’t persist much longer, but it’s hard to know exactly when Venezuela will run completely out of cash.

“The question is: Where is the floor?” says Siobhan Morden, head of Latin America fixed income strategy at Nomura Holdings. “If oil prices stagnate and foreign reserves reach zero, then the clock is going to start on a default.”

5 Comments - what are your thoughts?

  • Roy Fredrichsen says:

    In that case, O’Bama could take the billions of dollars he squirreled away from the American Treasury and BUY his way into the dictatorship of Venezuela and set himself up as King if he wants to.

  • Jean Langford M. says:

    EACH CITIZEN TO DATE HAS LOST 19 PLUS POUNDS BECAUSE OF FOOD SHORTAGES…FACT …”NOT” FICTION…SOCIALISM AT WORK….

  • justinwachin says:

    This is what happens when socialism is allowed to run a country. Productivity slows down and spending continues without worry.

    1. Roy Fredrichsen says:

      Yeah! That is what O’Bummer was trying to do to us. Did’nt work out “His way” did it.

  • randy jackson says:

    The perfect example of everything the Socialist demonRATS strive for!
    Makes no sense does it?
    Neither do the dumboRATS!

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