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PR Newswire
13-12-2014, 11:10 PM
It seems like we have a candidate for a sovereign default (again) soon. Even when oil was at 100dollars/barrel, it was just scrapping by.
Venezuela’s Got $21 Billion. And Owes $21 Billion
Of all the financial barometers highlighting the crisis in Venezuela, this may be the one that unnerves investors the most as oil sinks: The country’s foreign reserves only cover two years of bond payments.
The government and state-run oil company owe $21 billion on overseas bonds by the end of 2016, an amount equal to about 100 percent of reserves. Those figures explain why derivatives traders aren’t only betting that a default is almost certain but that it will most likely happen within a year.............
http://www.bloomberg.com/news/2014-12-12...uilds.html
Venezuela’s Got $21 Billion. And Owes $21 Billion
Of all the financial barometers highlighting the crisis in Venezuela, this may be the one that unnerves investors the most as oil sinks: The country’s foreign reserves only cover two years of bond payments.
The government and state-run oil company owe $21 billion on overseas bonds by the end of 2016, an amount equal to about 100 percent of reserves. Those figures explain why derivatives traders aren’t only betting that a default is almost certain but that it will most likely happen within a year.............
http://www.bloomberg.com/news/2014-12-12...uilds.html