A petrostate’s path back from the debt brink

Added: 14.11.2017 16:19 | 1 views | 0 comments


The country with the world’s largest proven oil reserves was declared to be in a debt default by Standard & Poor’s this week. Like many petrostates, once-rich Venezuela has squandered its natural wealth, mainly by a poverty of democracy. To fix the debt crisis will now require that its socialist dictator, President Nicolás Maduro, return the country to democratic ideals, starting with a presidential election slated for next year.

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