Venezuela is in the thick of a political and economic crisis. Now credit ratings agency Fitch has downgraded the country from B+ to B status, blaming political uncertainty and lack of economic reform.
Ousted Caracas mayor Antonio Ledezma has likened his escape to a film. He plans to take the fight against Venezuelan President Nicolas Maduro abroad.
Crisis-plagued Venezuela has suffered another blow as a committee of creditors has ruled that state oil company PDVSA defaulted on its debt — a decision that triggers payment of default insurance to investors.
Venezuela's Constituent Assembly has been investigating Freddy Guevara for his suspected involvement in anti-government protests. The 31-year-old has been seeking refuge in the Chilean embassy since Saturday.
Credit ratings agencies have declared Venezuela and its state-run oil company in "selective default." But Russia has offered to restructure the South American country's debt to ensure Caracas pays its other creditors.
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