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Venezuela bondholders inch toward showdown

Thursday, July 6, 2017

A Look At The Ongoing Upheaval In Venezuela

What has happened is that the government is not providing any dollars for imports to come in. And because Venezuela is an oil state, it essentially only produces oil. The rest of domestic production is non-existent. And so without imports, you don't have food, and you don't have medicine, and this gives you a serious humanitarian crisis. You know, the question is, the government doesn't care so much about these losses. Think of it in terms of a war. The government will wage this war regardless of the casualties sustained by the other side. And so they have made the determination that we will simply not make a change. We will fight back until the will to protest by the opposition is broken. More…

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