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Venezuela Default Probability Has Never Been Higher; Maduro “Working To Raise Oil Prices” | Zero Hedge

Venezuela Default Probability Has Never Been Higher; Maduro “Working To Raise Oil Prices” | Zero Hedge.

With OPEC slashing demand expectations to 12 year lows, oil prices have re-cratered today putting further pressure on socialist-utopia Venezuala which needs $121/bbl to break-even. Credit risk for the South American nation has exploded today to record highs – implying a 93% probability of default and President Maduro has taken to the airwaves to calm a benefit-needy nation… tensions are mounting…

Default risk has gone vertical…

As bond prices and black market FX crash further.

…click on the above link to read the rest of the article…

Olduvai IV: Courage
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Olduvai II: Exodus
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