Venezuela is down to its last $10 billion - News Summed Up

Venezuela is down to its last $10 billion


Venezuela only has $10.5 billion in foreign reserves left, according to its most recent central bank data. For rest of the year, Venezuela owes roughly $7.2 billion in outstanding debt payments. In 2011, Venezuela had roughly $30 billion in reserves. According to the country's recently released 2016 financial report, about $7.7 billion of its remaining $10.5 billion of reserves is in gold. Venezuela has more oil reserves than any other nation in the world, and oil shipments make up over 90% of the country's total exports.


Source: CNN March 01, 2017 17:15 UTC



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