State Department Orders Cuban Diplomatic Staff To Leave US
The U.S. Department of State ordered 15 Cuban officials from the embassy in Washington, D.C., to leave the country.
LEARN MOREVenezuela May Not Be Able To Pay Off Its Billion-Dollar Debt
Venezuela and its entities already missed nearly $600 million in payments this month.
Venezuela May Not Be Able To Pay Off Its Billion-Dollar Debt
Getty Images
October 29, 2017
Venezuela is strapped for cash. And the country is facing deadlines on critical payments that, if missed, would result in the country defaulting on its debt.
The nation's state-owned oil company PDVSA just made a payment of more than $800 million to one of its bondholders. On Nov. 2, another bond payment is due — this one to the tune of more than $1 billion.
But Venezuela and its entities already missed nearly $600 million in payments this month, which some say is a sign Venezuela is close to defaulting.
Venezuela's primary moneymaker, oil, has dropped in price over the last few years. To make matters even worse, the country's financial woes have made it even harder to refine and sell oil.
Earlier this year, the United States sanctioned Venezuelan leaders, its oil industry and even President Nicolás Maduro himself surrounding what critics called a move away from democracy.
Venezuela's oil sales to the U.S. have dropped by more than one-third since the sanctions took effect, though the country's current situation has much more to do with years of mismanagement, falling oil prices and growing political instability than anything else.
It's estimated Venezuela's central bank only has around $10 billion, with as much as half that value speculated to be illiquid assets like gold.
If Venezuela does default on its debt, foreign investors would be able to seize the country's oil assets outside its borders.
Colombia proposes shipping invasive hippos to India, Mexico
Scientists are warning that the hippos do not have a natural predator in Colombia and are a potential problem for biodiversity.
Mexican president says Tesla to build plant in Mexico
This would be Tesla's third plant outside the U.S., after one in Shanghai and one near Berlin.
Heinz locates man who survived on ketchup while stuck at sea
Heinz launched a social media campaign to help locate Elvis Francois after learning he survived on ketchup while stuck at sea for 24 days.
Top Stories
TikTok's CEO tries to convince lawmakers app isn't a security risk
As TikTok's CEO Shou Zi Chew was set to testify before a House committee on risks, his app connected 150 million active users in the U.S. alone.
2:28
Some lawmakers worry TikTok is a national security threat
Many lawmakers now consider this China-owned technology an urgent national security threat.
Judge blocks Wyoming abortion ban days after it took effect
A Wyoming judge has temporarily halted an abortion ban in that state, days after it went into effect, making abortion legal again.
