Last month, Goldman Sachs earned itself a bit of negative
press when The Wall Street Journal reported that it had purchased $2.8 billion
worth of bonds held by Venezuela’s central bank. As you may have heard, things
in the South American country have not been going so well of late, what with
the economy having shrunk 27 percent since 2013 and the International Monetary
Fund projecting inflation will clock in at 720 percent this year. Last year,
President Nicolás Maduro suspended state elections, purportedly until sometime
this year, and in recent weeks the death toll from daily anti-government
demonstrations has risen to at least 60. Maduro, meanwhile, has slashed imports
of food and medicine in order to ”conserve cash and continue bond payments,”
according to the Journal. More…
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