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Freitag, 26. Februar 2016

Will Venezuela Default?

Will Venezuela Default?

Americas Society / Council of the Americas

February 25, 2016


(Image: Rafael Matsunaga Flickr)

(Video starts at 0:55)
Follow the discussion on Twitter: #VZdefault | @ASCOA
Venezuela boasts the world’s largest proven oil reserves, yet with the steep decline in oil prices the country is in a self-declared state of economic emergency. Its GDP contracted 10 percent in 2015 and inflation hit an estimated 200 percent, while severe shortages of food and medicine worsened. At current oil prices, Venezuela will take in about $20 billion from oil revenues in 2016. But analysts suggest this will not be enough to avoid a credit event, as the country will have to service $10 billion of its debt stock in 2016, while continuing to import basic goods—which totaled $37 billion in 2015.
The Americas Society and Council of the Americas will host a conversation with leading experts to discuss the country's financial outlook.
  • Diego Ferro, Co-Chief Investment Officer, Greylock Capital
  • Jaime Reusche, Vice President and Senior Analyst, Sovereign Risk Group, Moody’s Investors Services
  • Martin Schubert, CEO, European InterAmerican Finance
  • Katia Porzecanski, Emerging Markets, Americas, Bloomberg News (moderator)@katiaporzo
Registration: This event is complimentary for all registrants, though prior registration is required.
Event Information: Guillermo Zubillaga | | 1-212-277-8362
COA Corporate Membership Information: Monica Vieira | | 1-212-277-8344
AS Individual Membership Information: Felipe Marin | | 1-212-277-8342
Press Inquiries: Adriana La Rotta | | 1-212-277-8384
Cancellation: Please contact Juan Serrano-Badrena before 3:00 p.m., Wednesday, February 24.

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