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Maduro ordered PDVSA to use cryptocurrencies

Tuesday, April 4, 2017

Venezuela central bank seeks help to fund $3 bil. in debt

Venezuela’s central bank is negotiating about $500 million in financing with a New York-based investment fund by using PDVSA bonds as collateral to help meet almost $3 billion in debt payments coming due in April, a lawmaker said on Monday. The bank began talks with U.S. investment fund Fintech Advisory Inc. three weeks ago to obtain some of the cash needed to pay external debt this month, opposition lawmaker Rafael Guzman, who sits on the congressional finance commission, told journalists. “These are desperate measures because [Venezuela] in April has to fulfill its obligations and apparently does not have the resources,” said Guzman. More…

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