Oil slide puts Venezuela's Maduro under pressure for reforms

The slump in global oil prices has heightened pressure on President Nicolas Maduro to enact politically risky reforms to bolster Venezuela's weak public finances and its ability to pay down debt. Crude prices under $85 have given new voice to reformers within Maduro's government, and critics outside, who say he needs to make urgent changes. "The government continues to study the changes ... The decisions will come bit by bit," a senior official at state oil company PDVSA said, explaining a package of reforms that were mooted earlier this year and include unifying a complex system of exchange rates - effectively devaluing the bolivar currency. More…