Venezuela has less than $10 billion — lowest reserves in over 20 years

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  • Venezuela has less than $10 billion — lowest reserves in over 20 years

    From cnn.com

    Meanwhile, Maduro’s government keeps running out of money as debt payments loom. Venezuela owes nearly $5 billion for the rest of this year.

    The country’s ability to pay its debt “is looking increasingly fragile,” says Edward Glossop, Latin America economist at Capital Economics, a research firm.

    Fears are rising that Venezuela will default this year. Some economists caution, however, that Maduro’s regime could get by in the short term if it lets reserves fall further.

    Related: Venezuela hikes up minimum wage for third time this year

    That scary financial backdrop is a major reason why Venezuela suffers … (full story)

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