Lo and behold, in 2014, the decade-long
oil boom ended. According to the Foreign Policy magazine, “With most lending
agreed to when oil hovered at more than $100 a barrel, as it did for most of
2007-2014, it seemed a good deal for both sides. However, when oil dropped to
close to $30 a barrel in January 2016, this caused Venezuela’s price tag for
serving its debt to explode. To repay Beijing today, Venezuela must now ship
two barrels of oil for every one it originally agreed to”. More… 
Monday, June 12, 2017
Capital suggestion: Venezuela’s debt
Lo and behold, in 2014, the decade-long
oil boom ended. According to the Foreign Policy magazine, “With most lending
agreed to when oil hovered at more than $100 a barrel, as it did for most of
2007-2014, it seemed a good deal for both sides. However, when oil dropped to
close to $30 a barrel in January 2016, this caused Venezuela’s price tag for
serving its debt to explode. To repay Beijing today, Venezuela must now ship
two barrels of oil for every one it originally agreed to”. More… 
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