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Monday, April 24, 2017

Venezuela only has $10 billion left in reserves

Venezuela only has $10 billion in reserves -- the cash that's intended to keep an economy stable and weather tough times. What's worse: most of those reserves aren't in hard cash. About $7 billion is in gold bars, which doesn't make it easy to make payments. And Venezuela has a lot of bills to pay soon. It owes $6 billion in debt payments for the rest of this year. There's also no sign that the country's lone source of revenue -- oil exports -- will be able to pay down those debts. More…

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