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Strategies & Market Trends : Dino's Bar & Grill
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To: Goose94 who wrote (31700)8/4/2017 8:03:35 PM
From: Goose94Read Replies (1) of 203376
 
Fears of Venezuela default spike. Venezuela is careening towards default later this year as billions of dollars of debt come due. Both the Venezuelan government and the state-owned oil company PDVSA have enormous debt obligations maturing soon, and there is little cash left with which to pay. Between now and the end of the year, the government and PDVSA owe $5 billion, but according to S&P Global Ratings, the government probably only has about $3 billion left in foreign exchange. A default is looking increasingly likely.
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