Betting on change in Venezuela

Nicolás Maduro’s government is keen not to scare off foreign creditors and has prioritised debt service over other urgent needs.

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Nicols Maduro: keen not to scare off foreign creditors

Venezuela is in the midst of a severe crisis. The IMF expects inflation to exceed 700% this year and GDP to shrink by 10%. Years of declining output and a crash in oil prices have left the country short of cash. There is mounting social and political unrest under an increasingly oppressive government and its most important enterprise, state-owned oil firm PDVSA, is on the verge of default.

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