US sanctions help push Venezuela to default

US sanctions against Venezuela have accelerated the already catastrophic decline of the oil-rich nation's economy, and are pushing it to a debt default that economists say could happen as early as this week. The aim of the latest US action is to choke off funding to Venezuela by blocking access to foreign currency. The Trump administration announced the latest sanctions against Caracas on August 24 after labeling Venezuelan President Nicolas Maduro a "dictator." They follow an earlier set imposed July 31.

from Yahoo News - Latest News & Headlines http://ift.tt/2hfyM7C