Venezuelan financial options close to exhaustion

摘要

How long can Venezuela stagger on before a default? Some analysts believe it could make it through 2017, but only by exhausting its few remaining financial options, while the country itself is becoming increasingly unstable. Rising volumes of oil have to be dedicated to servicing Chinese loans, while state oil company's PDVSA's focus on heavy oil production appears completely misguided. Roll on 2018 and billions of dollars more will have to be found, amid an economy in chaos and little hope of a revival in oil prices.