PDVSA is on the red and see why

[ukipa]

PDVSA, Venezuela government owned petroleum corporation is currently borrowing money from the BCV to meet its debt obligations and people in Venezuela wonder where all that money is going, besides the pockets of some corrupted politicians, here is a hint where the money is going and has gone.....see picture.


And read this article.

www.motorsport.com/f1/news/f1-maldonado-s-venezuela-backing-in-danger-report/

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[lighteater]

The corporate debt is roughly half revenues.

Of the debt, roughly a third (close to $10B) is owed to suppliers.

Sponsoring one Williams F1 team is hardly going to be a p**s in the ocean by comparison!

Plus, they're not all bad - not many Western oil companies make this sort of contribution...

uk.reuters.com/article/2011/12/07/venezuela-pdvsa-idUKN1E7B60GE20111207