Tuesday, October 4, 2016

Is Venezuela Bond Swap Doomed?


A dire shortage of cash to meet debt obligations may finally come to a head in Venezuela Thursday, a debt-swap deadline. One big sign of distress came quietly last week: Venezuelan President Nicolas Maduro, dressed in white, met with U.S. Secretary of State John Kerry in the city of Cartagena, saying he prayed for “a new era of relations with the United States.” Its a turnaround for Maduro, who has blamed the U.S. for Venezuela’s domestic economic disaster. Reuters reported that the U.S. urged Maduro to work with the country’s opposition, which is pushing for a fresh election that the government has stalled. More…

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