Venezuela Remains On Path To Collapse

Despite continued economic implosion, Venezuela’s government has bought time politically as the country’s opposition party remains somewhat in tatters. “The sanctions regime is likely to make an already difficult debt restructuring that much more so,” Tuesta writes. And oil production, a key lifeline at times for the country, continues its downward trend and consistently impacts revenues despite the rallying trend in global oil prices. It is expected PDVSA, Venezuela’s embattled state-owned oil company, will continue to meet payment obligations this year, though current sanctions may make it difficult for some recipients to receive the payments. .”More…