600,000 Bpd At Risk As Venezuela Delays The Inevitable

The debt situation is coming to a head in Venezuela. The
Venezuelan economy has been in shambles for years, plumbing new
depths when it seems that things cannot get any worse. All the
while the Venezuelan government prioritized debt payments, even as
people go hungry in the streets. But Caracas is running out of time
and money. On Thursday, President Nicolas Maduro went on state TV
and said that he would seek a restructuring of Venezuela’s debt.
But he sowed some confusion by using different words for what he
was seeking. As Bloomberg reported…

The debt situation is coming to a head in Venezuela. The
Venezuelan economy has been in shambles for years, plumbing new
depths when it seems that things cannot get any worse. All the
while the Venezuelan government prioritized debt payments, even as
people go hungry in the streets. But Caracas is running out of time
and money. On Thursday, President Nicolas Maduro went on state TV
and said that he would seek a restructuring of Venezuela’s debt.
But he sowed some confusion by using different words for what he
was seeking. As Bloomberg reported…