• News Desk

SITUATION TURNS DIRE FOR VENEZUELA


Venezuela’s crisis has turned even more desperate. The South American country is plagued by both humanitarian and economic crises. Recent reports indicate that the central bank of Venezuela is sharply depleted, holding just $11.9 billion in reserves. Last month, it had $30 million. Economic experts it is within the scope of possibility for Venezuela to run out of cash within the year. Despite its copious oil reserves, Venezuela’s oil production has hit 13 year lows. Many contractors have cut their projects in the South American country due to unpaid bills.

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#Venezuela #Oil #SouthAmerica #Debt

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