“The South American country, which is trying to stave off a bond default in the wake of oil’s swoon, had 68 percent of its international reserves in bullion as of August, according to the World Gold Council. That’s a big worry because the price of the precious metal has tumbled 15 percent from this year’s high in January as the global slump in commodities deepened. The decline threatens to erode reserves the cash-strapped country relies on to pay its foreign debt. Venezuela’s dollar-denominated bonds have lost 19.2 percent in the past three months, the most in emerging markets, as the collapse in oil exacerbates concern the nation will run out of money to pay debt.”
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Tip Freedomwat.ch Staff with Bitcoin
Related posts:
Wis. Restaurant Gives 1965 Prices to Customers Who Pay With Pre-1965 Coins
At least one million cockroaches escape from farm in China
After the whistle: Revealers of government secrets share how their lives have changed
Is it Obama's fault that missile defence staff watch porn on government computers?
Police in Peel Region using city buses to nab distracted drivers
U.K. Royal Mint Runs Out of Sovereign Gold Coins on Demand
Key evidence in Maricopa County Jail death suit of Deborah Braillard 'destroyed'
Woman with HIV alleges police bias in suit against Dearborn
Harper government kills controversial Canadian Internet surveillance bill
UPS receives $40 million fine for shipping prescription drugs for online pharmacies
Defence companies get boost from growing fears of conflict
Obama administration renews calls that China currency is undervalued
Young people are three times as likely to be unemployed in global economy
Bush-era state secrecy expert: Presidents abuse power like in Kafka or Orwell novels
HSBC won't give me more than £1k of my own cash over the counter