Venezuela's cash could run out 'within a year'

Venezuela's central bank only has $11.9 billion in reserves, down sharply from $30 billion in 2011.

Starting in October, the country also owes a total of $4.7 billion in a series of debt payments.

"Within a year they're going to run out of money," said Russ Dallen, an expert on Venezuela's debt and managing partner at Caracas Capital, an investing firm in Miami. Dallen pointed out that the country has been almost "suicidal" in its focus on making debt payments.

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