Publish button
Login to download. Need an ID and password? Register now!
BUSINESS: Venezuela on brink of bankruptcy infographic
Responsive button

Venezuela on brink of bankruptcy

Graphic News

November 14, 2017 -- Venezuela has a $120-$140 billion external debt which it borrowed when oil prices were more than $100 a barrel. Experts predict that a default is inevitable unless oil prices recover quickly.

President Nicolas Maduro’s decision to restructure Venezuela’s debt with banks and investors could trigger a debt crisis of a size not suffered in Latin America since Argentina’s massive 2001 default.

With foreign reserves now below $10bn, down from $30bn just five years ago, Venezuela has been forced to make an 80 percent cutback in imports since 2012.

The IMF calculates inflation is running at more than 652 percent — pushing the price of a single egg to 500 bolivars or around $50.

Fitch Ratings warns that Caracas faces bond coupon payments of $619.6 million in the last two months of 2017 and $3,348 million in 2018, as well as external bond principal maturities of $2,052 million next year.

Welcome to Graphic News

Please get in the habit of logging in when you arrive as some pages may soon be restricted. If you are new to Graphic News there is a Website Guide to help you find your way around.

If you need help or have questions, please contact us