28481
Venezuela FX Reserves Fall  at 12-Year Low
World Economy

Venezuela FX Reserves Fall at 12-Year Low

Venezuela’s international reserves fell to a 12-year low of $15.3 billion as the South American country faces payments on its dollar debt totaling $4.5 billion in October and November. Reserves fell $614 million on Oct. 16, the central bank said Monday on its website. That’s the lowest level since May 2003 and the biggest daily decline since June 3, according to data compiled by Bloomberg. The country, which has seen dollar revenue decline with oil prices, and its state-owned oil company, Petroleos de Venezuela SA, have principal and interest payments of $1.5 billion due this month and another $3 billion in November, according to data compiled by Bloomberg. The government will likely be able to pay its debt due this year, although there’s a 60% chance of default next year, Eurasia Group said Monday. “While Eurasia Group continues to expect Venezuela to service its debt in 2015, a default is likely in 2016,” the consultancy said in an en e-mailed note to clients. The central bank press department declined to comment on the reason for the decline.

Short URL : https://goo.gl/p7tsEu
  1. https://goo.gl/JDaCAo
  • https://goo.gl/Hhh4u2
  • https://goo.gl/PvjSuj
  • https://goo.gl/g7mYU2
  • https://goo.gl/jXjmfO

You can also read ...

An expanding trade war threatens to squeeze incomes.
The untold story of the world economy—so far at least—is the...
Uncertainty abounds in Malaysia, where a two-month-old government is only starting to give  a clearer picture of economic policy.
For Southeast Asia's biggest economies, 2018 wasn't supposed...
PwC Says Australian Firms Deliberately Going Broke
Companies that deliberately fail are costing the Australian...
Asian Stocks Retreat, European Shares Mixed
Asian stocks closed lower on Monday as investors digested the...
Russia has been seeking ways of decreasing dependence  on the US currency.
One of Russia’s largest banks, VTB is seeking to decrease the...
Turkey Budget Deficit Expands
Turkey’s central government budget balance recorded a deficit...
Chinese Premier Li Keqiang (C) shakes hands with Jean-Claude Juncker (L) and Donald Tusk after the meeting in Beijing on Monday.
China could open its economy if it wished, European Commission...
Experts Say China Can Cope With Uncertain H2
China is confident it can cope with a more uncertain second...

Trending

Googleplus