Americas: Economic overview

November 2017

Venezuela’s economic crisis is expected to worsen as the country faces the prospect of a full-blown sovereign default.

Venezuela is a key producer of gas in Latin America. However, the oil-rich OPEC nation has been experiencing political turmoil, which has helped push the country into its fourth consecutive year of recession. The International Monetary Fund does not expect Venezuela’s economy to grow until after 2020, which will hit investment in the country’s oil and gas sector.