Home » Communism, Disasters, Health, Politics, Social, South-Central America » Communist Paradise Venezuela Is Down to Its Last $10 Billion in Cash


Communist Paradise Venezuela Is Down to Its Last $10 Billion in Cash

 
 
 
 
 
submit to reddit

Venezuela continues its inevitable collapse.

The communist paradise is down to its last $10 billion in cash reserves.

The people are starving.

School children recently told reporters they had not had milk in over a year.

This is what communism/socialism does! Smash socialism and never vote for a leftist party unless you wanna starve to death.

CNN Money reported:

Venezuela only has $10.5 billion in foreign reserves left, according to its most recent central bank data.

For rest of the year, Venezuela owes roughly $7.2 billion in outstanding debt payments.

In 2011, Venezuela had roughly $30 billion in reserves. In 2015, it had $20 billion. The trend can’t persist much longer, but it’s hard to know exactly when Venezuela will run completely out of cash.

“The question is: Where is the floor?” says Siobhan Morden, head of Latin America fixed income strategy at Nomura Holdings. “If oil prices stagnate and foreign reserves reach zero, then the clock is going to start on a default.”

According to the country’s recently released 2016 financial report, about $7.7 billion of its remaining $10.5 billion of reserves is in gold. To make debt payments in the past year, Venezuela shipped gold to Switzerland.

Source

VN:F [1.9.22_1171]
Rating: 5.0/5 (2 votes cast)
Communist Paradise Venezuela Is Down to Its Last $10 Billion in Cash, 5.0 out of 5 based on 2 ratings
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  



RELATED ARTICLES

Did you like this information? Then please consider making a donation or subscribing to our Newsletter.
  • SGTSTEDENKO2

    Don’t worry your toilet paper shortage will be fixed as soon as the muslim traitors book is in circulation in the mean time EAT YOUR DEAD. COMMIES!

  • Patrice

    Wait till the banks hit-men come in and start demanding their pound of flesh..

Copyright © 2009 The European Union Times – Breaking News, Latest News. All rights reserved.