The collapse in oil prices could make another victim besides Russia. The price of crude below $60 a barrel is bringing the Venezuela by Nicolas Maduro. There is above all this consideration behind the decision of Fitch to cut the. by two notches rating of Venezuela, carrying it from B to CCC, last step before the sector 'default'.
Il downgrade, explains the agency in a note, reflects the pressures on the balance of payments related to the global collapse in crude oil prices, of which the South American country is one of the main world producers.
In Venezuela the situation is on the verge of economic collapse. Citizens are finding it increasingly difficult to buy basic necessities such as milk, flour and toilet paper. With each passing day, Venezuelans see their purchasing power disappear.inflation stands at around 60%.
