Venezuela does have a minimal ability to pay. Eventually, default is likely, but they have paid all of their bond obligations so far. (The story you hear is t

Venezuela does have a minimal ability to pay. Eventually, default is likely, but they have paid all of their bond obligations so far. (The story you hear is that many of the bonds are held by political allies, so the payments transfer money to them.) https://www.nytimes.com/2017/04/12/business/venezuela-oil-debt-payment.html https://www.nytimes.com/2017/04/12/business/venezuela-oil-de...