Natixis speaks to IFR on why oil price is not the cause of Venezuela’s problems, but the unveiling of them

The recent collapse in the price of oil has removed the veil of semi-respectability from Venezuela’s finances. In IFR’s Latin America Special Report 2015, Juan Carlos Rodado, Head of Latin America research at Natixis, argues that they have a US$27bn gap that largely exceeds international reserves, which will increase the risk of social unrest and a political coup. Indeed, with “President Maduro holding a mere 21% support, even Chavistas are not happy with his lack of leadership and improvisation.”

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