Published On: Thu, Oct 3rd, 2013

Maduro’s effect: All Venezuelan bonds are plummeting

MaduroCARACAS - The bonds of the Republic and of the oil of Venezuela fell because of the prevailing distrust of the international markets, due to the absence of economic measures to stabilize the currency market.

International firms have warned that while Venezuela has sufficient assets to meet its debt payment obligations, lack of decisions in change-policy are leaving the floating parallel market at high prices, could generate major problems of scarcity and inflation, which increases the political risk in the face of public discontent.

Bonds markers such as Global 2022 fell 2.02 points to close at 95.18%, the Global 2025 went down 3.5 points and ended at 65%. Another that had a strong fall was the Global 2020 which lost 3.4 points and ended in 66.1%, while the Global 2027 decreased 2.7 points and was trading at 75.8%

Oil Shares also experienced declines: the PDVSA 2027 fell 3.9 points in one day and ended up in 51.5%, while the PDVSA 2022 fell 2.5 points and was quoted at 92.7%.

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