Venezuelan Credit Dashboard: October Payments Total $1.8 Billion
- PDVSA swap could reduce amount due next month by $2 billion
- Country’s oil price hasn’t been rising like West Texas crude
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Venezuela, which has the largest crude reserves on the planet, has defied predictions of default since the oil collapse started in 2014, and analysts are split as to how long the nation of 30 million can hold out. With that in mind, Bloomberg is taking a close look each month at some of the key components that may determine its fate.
The government and state oil company Petroleos de Venezuela SA need to make $1.75 billion in debt payments this month -- including a principal payment of $1 billion on a PDVSA bond that matures Oct. 28 -- after payments totaling $310 million in September, according to data compiled by Bloomberg.