Venezuela reveals $240B in debt it cannot pay (~$100B more than expected)
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Re: Venezuela reveals $240B in debt it cannot pay (~$100B more than expected)
#2According to the Financial Times, it will be the world’s largest debt restructuring.[a]
Venezuela's economy has been a disaster for many years.[b] Surely I'm not the only one wondering:
Where did all that borrowed money go? If any of it had been spent to buy goods and services inside Venezuela, it would have led to at least some business formation and activity. Instead, there's only been business destruction and constant crisis. It's kind of incredible that the country has nothing to show for all the money it borrowed.
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[a] https://www.ft.com/content/b7f25ca2-827c-40f9-ab1a-57067d8ec... (paywalled)
Re: Venezuela reveals $240B in debt it cannot pay (~$100B more than expected)
#3According to the Financial Times, it will be the world’s largest debt restructuring.[a] Venezuela's economy has been a disaster for many years.[b] Surely I'm not the only one wondering: Where did all that borrowed money go? If any of it had been spent to buy goods and services inside Venezuela, it would have led to at least some business formation and activity. Instead, there's only been business destruction and cons…
Corruption.
Re: Venezuela reveals $240B in debt it cannot pay (~$100B more than expected)
#4Smart move to acknowledge this and go for the debt restructuring while the current U.S. president sees Venezuela as his major foreign policy win.
The government will be able to leverage that to get the U.S. government to push for far more favorable terms for Venezuela than it ever would have otherwise.
Re: Venezuela reveals $240B in debt it cannot pay (~$100B more than expected)
#5According to the Financial Times, it will be the world’s largest debt restructuring.[a] Venezuela's economy has been a disaster for many years.[b] Surely I'm not the only one wondering: Where did all that borrowed money go? If any of it had been spent to buy goods and services inside Venezuela, it would have led to at least some business formation and activity. Instead, there's only been business destruction and cons…
Into the pockets of the leaders. The people will pay for it through a cut of oil profits for the foreseeable future.
Re: Venezuela reveals $240B in debt it cannot pay (~$100B more than expected)
#6According to the Financial Times, it will be the world’s largest debt restructuring.[a] Venezuela's economy has been a disaster for many years.[b] Surely I'm not the only one wondering: Where did all that borrowed money go? If any of it had been spent to buy goods and services inside Venezuela, it would have led to at least some business formation and activity. Instead, there's only been business destruction and cons…
Corruption.
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Re: Venezuela reveals $240B in debt it cannot pay (~$100B more than expected)
#7According to the Financial Times, it will be the world’s largest debt restructuring.[a] Venezuela's economy has been a disaster for many years.[b] Surely I'm not the only one wondering: Where did all that borrowed money go? If any of it had been spent to buy goods and services inside Venezuela, it would have led to at least some business formation and activity. Instead, there's only been business destruction and cons…
In a dictatorship, the money goes to the dictator and his friends.
Re: Venezuela reveals $240B in debt it cannot pay (~$100B more than expected)
#8According to the Financial Times, it will be the world’s largest debt restructuring.[a] Venezuela's economy has been a disaster for many years.[b] Surely I'm not the only one wondering: Where did all that borrowed money go? If any of it had been spent to buy goods and services inside Venezuela, it would have led to at least some business formation and activity. Instead, there's only been business destruction and cons…
Corruption.
At least your reply wasn’t written by AI
Re: Venezuela reveals $240B in debt it cannot pay (~$100B more than expected)
#9Re: Venezuela reveals $240B in debt it cannot pay (~$100B more than expected)
#10According to the Financial Times, it will be the world’s largest debt restructuring.[a] Venezuela's economy has been a disaster for many years.[b] Surely I'm not the only one wondering: Where did all that borrowed money go? If any of it had been spent to buy goods and services inside Venezuela, it would have led to at least some business formation and activity. Instead, there's only been business destruction and cons…
It’ll be hard to know where it goes, but there’s a reason why people like Putin are billionaires. They siphon off funds from the state to themselves. And no one is in a position to stop them or even look into what’s going on.
Venezuela was allegedly planning to invade a resource rich neighbor before the Trump administration’s actions, as part of a long standing territorial dispute, and I think that was partly so Maduro could keep the support of the population but also partly to deal with the financial problems. So their leaders definitely knew these issues were building up.