One of the largest holders of Venezuelan bonds says U.S. sanctions
are giving Nicolas Maduro’s government greater incentive to pay its debts. The
penalties imposed late last month restrict the country’s ability to restructure
its obligations, meaning the president’s only option is to keep scraping up
enough cash to keep current on overseas notes. Maduro will put off default as
long as possible because it would be catastrophic for the oil industry and
ultimately lead to a government collapse, according to Bent Lystbaek, who
oversees $3.4 billion in emerging-market debt at Danske Capital. More…
No comments:
Post a Comment