Debt mountain looms in Venezuela despite hope from opposition victory

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Debt mountain looms in Venezuela despite hope from opposition victory

Oliver West
December 10, 2015 10:30 PM
Nicolas Maduro
Venezuela's President Nicolas Maduro holds up a small copy on the constitution during a meeting with leaders of the opposition at Miraflores presidential palace in Caracas, Venezuela, Thursday, April 10, 2014. Maduro's opponents blame his government for destroying the oil-rich economy and stamping out dissent. Meanwhile Maduro claims he's the target of U.S.-backed coup attempt. (AP Photo/Fernando Llano) | Fernando Llano/AP/Press Association Images

Opposition supporters were rejoicing in Venezuela this week after their greatest electoral victory over Chavismo, but the bond market’s reaction was muted as oil plummeted to nearly seven year lows and the scale of the political and economic challenges that lie ahead loomed large.

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Oliver West
US Bureau Chief - Latin America Editor
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