Venezuela on brink of bankruptcy 

Venezuela has a $120-$140 billion external debt which it borrowed when oil prices were more than $100 a barrel. Economists predict that a default is certain unless oil prices recover quickly

Crude oil price ($ per barrel)
96% Oil as share of Venezuela’s export revenues
Country needs $75 per barrel to balance its budget

120
100
 80
 60
 40
 20
  0   2012  2013   2014 2015 2016 2017


Mar 2012
$112.76

Jun 2014
$98.19

Jan 2016
$20.73

Nov 2017
$56.76


Hugo Chávez President 1998-2013
Nicolás Maduro President since April 2013

$30bn  2012 Foreign currency reserves

$20bn  2015

$9.6bn  Nov 2017

652.7% Inflation rate
One egg costs 500 bolivars ($50, €43)


Debt payments due for global bonds
$619.6m              $3,348m
Nov-Dec 2017         Jan-Dec 2018


Sources: Barrons, CNN, EIA, Fitch Ratings, IMF Pictures: Associated Press
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