Venezuela facing food shortage, dire economic conditions


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While Brazil and Argentina are heading towards economic recovery despite ongoing challenges, Venezuela is said to be plunging deeper into crisis. The Latin American country that owns the world’s largest oil reserves is running out of cash, analysts said. From USD 30 billion in reserves in 2011, Venezuela now owns just a third of that with around USD 10 billion while it owes USD 7 billion in outstanding debts payments in 2017.

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