Venezuela president says seeking financing to offset oil fall [View all]

[Zorro]

Venezuela President Nicolas Maduro said on Tuesday evening he was seeking financing to counter a dramatic fall in oil prices that have hurt the cash-strapped OPEC country but did not provide further details.

"We're looking for resources," he said during a speech to unveil a plan to combat the "economic war" he blames Venezuela's recession and shortages on.

"We're dedicated, 24 hours a day every day, to looking.... so that the country can function," added Maduro, who visited a flurry of countries including China during a nearly two-week tour earlier this month.

With oil prices down by more than half since mid-2014, Venezuela's economic mess has hit Maduro's popularity hard and hiked pressure on the government to find fresh funds amid a recession and shortages of basic goods.

http://news.yahoo.com/venezuela-president-says-seeking-financing-offset-oil-fall-012411098--sector.html

The day of reckoning is fast approaching.