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Doomed Venezuela: This One Number Shows Just How Bad It IsSimon Constable...The country now owes over seven times more money to its foreign creditors, than it earns from its increasingly limited exports, new research shows.The country's external debts total $145 billion, according to the Institute of International Finance (IIF) a Washington-based think tank, which just published a report on the matter. Those debts stem from direct government borrowing and as well as from loans taken out by the state-owned oil company PDVSA. There is also a small level of private sector borrowing....The problem is that the debts dwarf the country's key source of foreign currency revenue -- exports.Read more at: https://www.forbes.com/sites/simonconstable/2019/03/08/doomed-venezuela-this-one-number-shows-just-how-bad-it-is/#db3961048a84
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Topic: Doomed Venezuela: This One Number Shows Just How Bad It Is - Forbes (Read 314 times)
