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Venezuelan Credit Dashboard: Attention Shifts to Final Quarter

  • Rumors of swap persist as $5 billion is still due this year
  • Oil price increases, although production concerns are mounting

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 pay $310 million this month after payments totaling $726 million in August, according to data compiled by Bloomberg. Attention will now start to shift toward the last quarter of the year, when interest and coupon payments totaling almost $5 billion come due.