Venezuela's Descent Into World's Riskiest Sovereign Credit: Q&A
- No country is more likely to miss payments, swaps prices show
- Investors pricing in chance of overseas default in October
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Venezuela is running out of money.
The price of oil, which makes up almost all of the country’s exports, has tumbled 75 percent in the past three years and investors are predicting the country is on course for the biggest-ever emerging-market sovereign default. No nation in the world is more likely to miss payments, according to traders of its credit-default swaps.