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ReflectionsApr 5, 2017 | 00:45 GMT
A default by Petroleos de Venezuela on its debt would likely hamper oil production, leading to tighter food supplies and stirring up further unrest in Venezuela.
A Crucial Deadline Looms for Venezuela
Venezuela has reached a critical point. To avoid default, state oil and gas company Petroleos de Venezuela (PDVSA) must make $3 billion in foreign debt payments over the next two months, and the government is scrambling to find the cash to do so. Although Venezuela has long lived with the risk of default on foreign debt, reports have surfaced that Caracas has yet to seal agreements for loans it will need to make the payments -- both those due soon and for the remainder of the year.
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AssessmentsFeb 17, 2017 | 22:02 GMT
Links to the narcotics trade in the Venezuelan ruling class
Venezuela: Where Drugs and Diplomacy Meet
The new U.S. administration is getting tough with Caracas. Hints have emerged that the United States will soon move to level new sanctions against the Venezuelan government for officials’ involvement in criminal activity. But Venezuela will not accept more punitive measures against its politicians without a fight.
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