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Moody's has grim take on Venezuela

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I mean, more grim that it already has. Moody's says high oil prices cannot offset the drop in production, and inflation of 4,000% expected to continue. Prospects of paying off debt slim.

"The fall in production will only exacerbate cash-flow stress. While oil prices have rallied in recent months, the decline in oil production will more than offset the would-be increase in dollar inflows from oil exports. This has negative implications for both debt repayment capacity and Venezuela’s already grim economic outlook."

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