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Venezuela Turns to Its Secretive Bag of Tricks to Avoid Default

  • One analyst sees $15.5 billion in assets on top of reserves
  • Another says investors can’t count on any off-budget assets
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Why Venezuela's Many Crises Keep Getting Worse

In the wake of Goldman Sachs’s controversial purchase of $2.8 billion of bonds held in Venezuela’s vaults, investors have been trying to quickly figure out what other hidden assets the country might be sitting on.

The stakes are high. As the central bank’s officially published foreign-reserve figure dwindles to just over $10 billion, that secretive stockpile might ultimately decide whether the nation averts default or not.