Token attempts to reverse Venezuela’s economic slide
Venezuela introduces a new foreign exchange system and allows the state oil company, PDSVA to sell dollars. Meanwhile, Venezuela and China are thought to be considering “adjustments” to their $50 billion loan arrangements, under which Venezuela pays back its debt in oil and fuel. However, this appears to fall short of the regime’s hopes for financial relief or significantly easing the terms of the loan.
A BBC feature on Venezuela-Cuba relations in light of Venezuela’s economic woes speculates that falling oil prices will see Cuba unable or unwilling to ‘pay’ Venezuela anymore via its long-term arrangement of providing medical training programs. An AP feature focuses on the pressures of everyday Venezuelans, even in flagship developments such as “Chavez City.”