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OAS urges Venezuela to reconsider its electoral process

Wednesday, March 22, 2017

Venezuela vows PDVSA will met 2017 bond payments amid stronger oil prices

Venezuelan state oil company PDVSA will honor some $17 billion in bond payments due this year thanks to stronger oil prices, Economy Vice President Ramon Lobo said in a newspaper interview published on Tuesday. Brent crude, the international benchmark for oil, surged in January above $58 per barrel in the wake of output cuts, although it slipped last week to a three-month low. Cash-squeezed Venezuela depends on oil for over 90 percent of its hard-currency revenues, so market fears have grown over its ability to service major debt payments. President Nicolas Maduro's government, however, has repeatedly ruled out a default. More…

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