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Video: Venezuela's Economy - What Lies Ahead? 

Tuesday, February 3, 2015

Panelists:

  • Jaime Reusche, Vice President and Senior Analyst, Sovereign Risk Group, Moody’s Investors Services
  • Francisco Rodríguez, Director and Senior Andean Economist, Bank of America Merrill Lynch
  • Alejandro Velasco, Assistant Professor of Latin American Studies, New York University
  • Katia Porzecanski, Emerging Markets, Americas, Bloomberg News (Moderator)

"I don't give the system, as we know it, more than six months," said Francisco Rodríguez, highlighting Venezuela's dollar exchange rate and relative prices as some major issues for the country's economy. While Venezuela's economic situation affects investors' confidence in the country, the political scenario has implications for foreign interests as well, said panelists. According to Alejandro Velasco, President Nicolás Maduro's 20 percent approval rating does not transfer to support for the opposition, and Venezeula is still not on the verge of political change unless protests by the popular sector take place. Even if the opposition were to take over, Jaime Reusche said there would still be some loss to bond holders. 

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