In the event that Venezuela should have
no access to international markets in 2017, it would only need to pay off
USD6.6 billion – not so great given Venezuela's size and potential. Diego
Marynberg, portfolio manager at Adar Capital, says: “Since the beginning of the
second half of 2014, when the price of oil began shooting down from over USD100
per WTI barrel to its minimum of USD26 in March this year and its recovery to
its current level of USD45-50 dollars, markets have set prices based on the
expectation of a debt default by Venezuela and its main oil company Petróleos
de Venezuela, SA, but they were wrong.” More...
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