Monday, December 1, 2014

Venezuela: On the Edge

Socialist policies and falling oil prices are a witches brew for Venezuela.

Venezuela’s international reserves declined $1.3 billion last week even after President Nicolas Maduro transferred $4 billion of Chinese loans to the central bank, reports Bloomberg.

Maduro on Nov. 18 ordered the Chinese loan proceeds to be moved from an off-budget fund, so that they would show up in reserves and help boost investor confidence in an economy beset by the world’s highest inflation and widest budget deficit.

The country’s reserves now stand at $22.2 billion.


  1. I wonder if they'll ever abandon Socialism?

    1. Depends on if they even have 2 brain cells to rub together. Maybe when enough of those idiots have starved or died they will. Most people always want to learn the hard way.