Money in Venezuela

Venezuela Money | Economic News & Forecasts

Venezuela - Money

The economy remains in dire straits. Despite oil prices hovering at a near four-year high, oil production continues to steadily decline, with the January through August average down nearly a third in year-on-year terms. Moreover, hefty financial obligations overhanging the state-run oil firm PDVSA only adds to the industry’s problems. Nearly USD 1 billion must be paid to holders of PDVSA 2020 bonds this month, which, if it were to default, could put its U.S.-based refining unit CITGO, which was used as collateral, at risk of takeover by creditors. In addition, PDVSA must pay USD 500 million to ConocoPhillips by the end of November, as part of the payment schedule agreed to in August to settle a USD 2 billion arbitration award granted to ConocoPhillips, in order to regain complete control of its oil facilities in the Caribbean. Further exacerbating matters, a delay in repairs at Venezuela's main oil port is likely to put additional pressure on its crude oil exports and thus constrain the ability to collect desperately needed hard currency. Nonetheless, China's decision in mid-September to extend a USD 5 billion credit line to the government should provide, at least temporarily, some breathing room. Meanwhile, authorities continue to roll out sweeping measures in a bid to stabilize the economy, with the latest being the official launch of the petro cryptocurrency on 1 October. Whether they are effective remains to be seen, however.

Venezuela - Money Data

2013  2014  2015  2016  2017  
Money (annual variation in %)69.7  64.0  111  159  1,121  

Sample Report

5 years of economic forecasts for more than 30 economic indicators.


Venezuela Money Chart

Venezuela Money
Note: Annual variation of M2 in %.
Source: Venezuela Central Bank and Met the why particular calculations.

Venezuela Facts

Bond Yield5.500.0 %Aug 19
Exchange Rate248,8320.0 %Aug 17
Stock Market115,2492.04 %Oct 16

Sample Report

Get a sample report showing all the data and analysis covered in our Regional, Country and Commodities reports.


Start Your Free Trial

Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.

Sign Up

Economic News

Search form