Venezuela debt crisis adds to its humanitarian woes

Venezuela missed a second deadline for a large payment on its debt due in October, and is now facing humanitarian and debt crises.

by

    Venezuela is already facing a humanitarian crisis, and now it is also suffering a debt crisis.

    The rating agency Standard & Poor's Global has declared the nation in "selective default" after it missed a second deadline to make a payment due in October.

    Critics say Venezuela's leaders have prioritised clearing debt over a growing humanitarian crisis that has left many of its people hungry and children dying in hospitals due to medical shortages.

    The country's leaders say US sanctions are making it impossible to refinance its debt, and that they will pursue alternate agreements with traditional rivals such as China and Russia.

    Al Jazeera’s John Hendren reports.


    YOU MIGHT ALSO LIKE

    Interactive: Plundering Cambodia's forests

    Interactive: Plundering Cambodia's forests

    Meet the man on a mission to take down Cambodia's timber tycoons and expose a rampant illegal cross-border trade.

    The priceless racism of the Duke of Edinburgh

    The priceless racism of the Duke of Edinburgh

    Prince Philip has done the world an extraordinary service by exposing the racist hypocrisy of "Western civilisation".

    China will determine the future of Venezuela

    China will determine the future of Venezuela

    There are a number of reasons why Beijing continues to back Maduro's government despite suffering financial losses.