Venezuela’s Default Risk Is Rising
- Nation’s reserves haven’t fallen below that level since 2002
- Political tension spikes as Maduro plans new constitution
Why Venezuela's Many Crises Keep Getting Worse
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Bets on a Venezuelan default are climbing as international reserves slump toward $10 billion amid anti-government protests and President Nicolas Maduro’s push to rewrite the constitution.
The implied probability of the country missing a payment over the next 12 months rose to 56 percent in June, according to credit-default swaps data compiled by Bloomberg. That’s the highest level since December. The odds of a credit event over the next five years increased to 91 percent last month.