Venezuela: We can't pay our debts anymore
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Venezuela: We can't pay our debts anymore

By Strategist following x   2017 Nov 4, 9:46am 97 views   2 comments   watch   quote     share  


http://money.cnn.com/2017/11/02/news/economy/venezuela-debt-restructuring/index.html
#politics Venezuelan President Nicolas Maduro finally admitted his government can't afford to pay all of its mounting bills.
Maduro said in a televised speech Thursday that Venezuela and its state-run oil company, PDVSA, will seek to restructure their debt payments.
The oil company made a $1.1 billion payment on Thursday, he said, a sizable amount for a country with only $10 billion left in the bank. "But after this payment, starting today, I decree a refinancing and a restructuring of the external debt," Maduro told the country.
Venezuela is already deep into a humanitarian crisis, with people suffering from food and medical shortages. Many can't afford to buy basic items because prices are skyrocketing faster than wages. The country's currency, the bolivar, is worth less than a tenth of a U.S. penny.
1 APOCALYPSEFUCK_is_ADORABLE   ignore (5)   2017 Nov 4, 9:52am   ↑ like (0)   ↓ dislike (0)     quote        

This is exactly why AMERICA! should seize Venezuela and use the Social Security trust fund to turn it into a hunting park for billionaires who want to fly around shooting at people.
2 Strategist   ignore (0)   2017 Nov 4, 9:53am   ↑ like (1)   ↓ dislike (0)     quote        

Another socialist dictatorship bites the dust. It's amazing how a country with the world's largest oil reserves becomes such a basket case, and yet many think it's the USA that is going down the tubes.

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