Despite a slump in oil revenue on which
Venezuela depends, the indebted country has the resources and willingness to
meet its debt obligations without defaulting this year, says Bank of
America/Merrill Lynch Analyst Francisco Rodriguez. Writing from Caracas, where
he’s been meeting with policymakers, politicos, private-sector players and
local economic analysts, Rodriguez says the market has been overestimating the
chances of a Venezuela default and underestimating the chances of a political
transition in 2016 following elections in December. He sides with the bulls,
who point to the magnitude of the country’s assets and its access to
non-conventional sources of debt financing (China just made another loan to
Venezuela.) Rodriguez writes: More… 
Friday, September 4, 2015
Venezuela Default Risk: Overstated In Election Year?
Despite a slump in oil revenue on which
Venezuela depends, the indebted country has the resources and willingness to
meet its debt obligations without defaulting this year, says Bank of
America/Merrill Lynch Analyst Francisco Rodriguez. Writing from Caracas, where
he’s been meeting with policymakers, politicos, private-sector players and
local economic analysts, Rodriguez says the market has been overestimating the
chances of a Venezuela default and underestimating the chances of a political
transition in 2016 following elections in December. He sides with the bulls,
who point to the magnitude of the country’s assets and its access to
non-conventional sources of debt financing (China just made another loan to
Venezuela.) Rodriguez writes: More… 
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment