Oil Collapse Sees Venezuela Burning Through Its Savings: Chartby
Venezuela is running out of money as the cheapest oil in more than a decade saps its reserves.
As much as $12 billion of its reserves may be in gold, according to Barclays Plc, leaving less than $3 billion in cash. Venezuela has $5.2 billion of bonds and interest to pay in the next 12 months, and the collapse in oil means the spendthrift government of President Nicolas Maduro may now struggle to meet its $1.5 billion debt payment in February. For a link to the full story, click here.