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Published:Wednesday | November 25, 2015 | 11:00 AM

Study: Poverty in Venezuela

at 73% of households

A study estimates poverty in Venezuela has hit an all-time high of some 73 per cent of households.

The report says that's up from about 27 per cent in 2013 and 48 per cent in 2014.

It was prepared by researchers at three Venezuelan universities on the basis of surveys with 6,000 people in the nation of 30 million.

Poverty rates plummeted during the first years of Venezuela's 16-year-old socialist revolution under the late President Hugo Chavez. But they have risen more recently as the country struggles with raging inflation, a deepening recession and falling prices for oil - Venezuela's main source of foreign income.

The study was released last Friday, ahead of Venezuela's

legislative elections next month.

Power company obtains new debt deal deadline

Puerto Rico's heavily indebted power company says it faces a new deadline to reach a restructuring deal.

The deadline had been Friday, but the Electric Power Authority says it now has until December 10 to reach a deal with several monoline bond insurers.

The company previously reached a deal with a bondholder group that holds about one-third of its US$9-billion debt.

The monoline bond insurers had not agreed earlier to extend their forbearance agreement, but have not sued.

Bondholders and creditors are now awaiting action on a bill that would finalise their deal with the power company. Legislators have been forced to call a special session for the first week of December to debate that measure.