Dollar-starved Venezuelan telecoms turn weaker

Venezuelan telecom sector is reeling under pressure as it lacks additional funds availability, the physical currency of dollars. The cash-strapped telecom companies are unable to strengthen their networks. The soaring inflation doesn't allow them to raise a tariff.  Crisis-hit Venezuela's telecom sector is reeling under pressure as lack of dollar availability and funding dampening the competitiveness of the industry. The ailing Venezuela has put a cap on dollar spending thus handicapping the telecom industry in importing latest equipment and accessing fund-raising. This situation deteriorates the telecom industry's performance as roaming and mobile internet services turning weaker. The cell phone coverage area outside the capital city Caracas has already become patchy or near non-existent in most of the country. More…