Venezuela Needs $30b a Year to Rescue Economy

The International Monetary Fund calculates a potential rescue of Venezuela could cost more than $30 billion per year. Huge sums will likely be required to increase imports, boost consumption and finance the fiscal debt. Discussing a possible bailout, a senior IMF official told the Financial Times, “the market needs to be prepared for this”, Business Insider reported. Douglas Rediker, a former US representative at the IMF, said, “This is going to be Argentina meets Greece in terms of complexity.”More…