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In 2018, Venezuela's debt grew to US$156 billion [310] and as of March 2019, its reserves had dropped to US$8 billion. [311] With the exception of PDVSA's 2020 bonds, [312] as of January 2019, all of Venezuela's bonds are in default, [313] and Venezuela's government and state-owned companies owe nearly US$8 billion in unpaid interest and ...
Agriculture in Venezuela accounts for approximately 4.7% of GDP, 7.3% of the labor force and at least one-fourth of Venezuela's land area. [7] Venezuela exports rice, corn, fish, tropical fruit, coffee, pork and beef. Venezuela has an estimated US$14.3 trillion worth [28] of natural resources and is not self-sufficient in most areas of ...
In the early 2000s, when oil prices soared and offered Chávez funds not seen since the beginning of Venezuela's economic collapse in the 1980s, Chávez's government became "semi-authoritarian and hyper-populist" and consolidated its power over the economy in order to gain control of large amounts of resources.
Venezuela's opposition wants to call a referendum on President Nicolás Maduro's term. Venezuela enters state of emergency as its economy melts down Skip to main content
This ended up having limited effects in the economy as World War II broke out and Venezuela continued supplying large amounts of oil to the United States. [2] Through the 1950s, the Venezuelan economy grew at a healthy rate despite rampant corruption and deceit for foreign companies and the indifferent stance of the government. [1]
Hugo Chevez died from cancer last night after 14 years as President of Venezuela. In the short term, Chavez's death means little for the oil markets, which shrugged off the news. The question now ...
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Venezuela's economy is highly dependent on oil production and exportation. [2] Venezuela is a member of the Organization of Petroleum Exporting Countries. Its economy is prone to disruption given that price of oil fluctuates rapidly. In 2014, oil prices dropped. Since then Venezuela has had to adapt to a significant decrease in state revenue.