The Christian Science Monitor

A petrostate’s path back from the debt brink

The country with the world’s largest proven oil reserves was declared to be in a debt default by Standard & Poor’s this week. Like many petrostates, once-rich Venezuela has squandered its natural wealth, mainly by a poverty of democracy. To fix

You're reading a preview, sign up to read more.

More from The Christian Science Monitor

The Christian Science Monitor5 min readPolitics
For Hong Kong’s Leader, Pressure Isn’t Just From Protesters
Hong Kong protesters are increasingly frustrated with Chief Executive Carrie Lam’s handling of a controversial bill. But so is Beijing, analysts say.
The Christian Science Monitor5 min read
Can The US Protect The Persian Gulf If Iran Wants To Target Tankers?
Tensions between the U.S. and Iran are high after a half-dozen oil tankers were attacked in the Persian Gulf and the Strait of Hormuz.
The Christian Science Monitor6 min readPolitics
Dollars Today For Enslavement Long Ago? Georgetown Students Say Yes.
After a historic vote by Georgetown students, a reconciliation fee to benefit descendants of enslaved people has not yet been approved by the school.