Skip to content
Subscriber Only
Markets
Economics

IMF Says Venezuela Crisis Worse Than Expected as Sanctions Burn

  • Venezuela bondholders aren’t expecting a ‘full recovery’
  • Werner says he expects extremely generous Brazil pension plan
Video player cover image
Venezuelans 'Starving To Death': Trump

The worst economic crisis in modern Latin American history has gotten "even worse" than expected as new U.S. sanctions exacerbate pain on Venezuela, according to the International Monetary Fund.

There’s more downside risk in the region after the Trump administration slapped a de facto oil ban on Venezuela and tightened restrictions on state oil giant PDVSA, said the IMF’s Western Hemisphere Director Alejandro Werner.