• Wednesday, January 18 2017

    - Yesterday, local media reported a new implicit VEF/USD rate as result of the operations carried out by exchange houses at the border with Colombian Pesos (COP). This new FX rate stands at VEF/USD 734, up 8% from the highest official VEF/USD rate, better known as Simadi. According to the governor of Tachira state, Vielma Mora, the Central Bank will offer Colombian Pesos within the new scheme. In other regard, Finance Minister Ramon Lobo announced that adjusting ATMs for the new banknotes would take from 15 to 45 days, but during t

  • Tuesday, January 17 2017

    - Since yesterday, citizens with a residency in Venezuela may start trading Colombian Pesos in the eight new exchange houses in Border States. Similar to the Simadi FX scheme, citizens will have to register online in the exchange houses previously authorized by the government and wait for an appointment, as reported by a local exchange house. The FX rate has been established in VEF/COP4 but it is expected to fluctuate accordingly with the performance of the market. Nonetheless, currency is not available at the moment. In addition t

  • Monday, January 16 2017

    - This Sunday the President, Nicolas Maduro, presented the State of the Nation for the year 2016. This time he did it in front of the Supreme Court and not in the National Assembly as it is constitutionally established. In the speech, the President announced a new Economic Emergency Decree -to be published today in Official Gazette-, as he argued that this is necessary in order to keep fighting the economic crisis, without depending on the National Assembly or on anyone else. Additionally, he reinforced the argument that the underp

  • Friday, January 13 2017

    - ConocoPhillips has joined Crystallex on the lawsuit against PDVSA and Rosneft, this regarding the loan given by the latter to the Venezuelan state-owned company with 49.9% of Citgo Holding’s equity as collateral. The plaintiff already filed a lawsuit back in October against PDVSA for using the remaining 50.1% stake in Citgo as collateral for the bond swap carried away by the Venezuelan company. ConocoPhillips affirms in the lawsuit that the stake was “fraudulently transferred” and asks for the invalidation of the operation


BancTrust & Co. is a boutique investment bank dedicated to Latin America and specialized in High Beta LatAM & the Caribbean Credit Markets; mainly Venezuela, Argentina, and Dominican Republic.

The firm operates through various entities located across The Americas and Europe. As a group of companies, we facilitate global market transactions to a diverse client base that includes corporate treasuries, financial institutions, asset managers, and governments and its entities.

  • Venezuela Weekly Report

    New Year, Renewed Cabinet

    January 6 2017 BancTrust & Co. Research & Strategy Team

    The Venezuela administration started the year by shaking its cabinet and this Wednesday President Nicolás Maduro announced 11 cabinet shifts, from which four of the new ministers were serving as legislators and two were serving as governors. Read more

  • Argentina Weekly Report

    Starting with the Right Foot

    January 6 2017 BancTrust & Co. Research & Strategy Team

    President Mauricio Macri’s administration surely has a way of starting a new year, as the new Minister of Treasury moved to eliminate the last capital control in Argentina, implemented since the 2001 crisis and later on reformed in 2005 by former Minister Roberto Lavagna under Nestor Kirchner government. Read more

  • Quantitative Reports

    EM Quantitative Chartbook Weekly Report

    July 17 2015 Research & Strategy Team

    Below we produce the Par Equivalent CDS spread metrics in order to assess the credit relative value and identify the bonds that are cheap or expensive relative to what we describe as a theoretical fair value curve. Graphs and tables below show results of these calculations for Venezuela, PDVSA, Ukraine, Russia, Argentina, Panama, Turkey, Ecuador, Mexico and Brazil. Read more

  • Entrevista en CNN con José Antonio Montenegro sobre Argentina Source: CNN | Added on July 1, 2016

    Entrevista en CNN con José Antonio Montenegro sobre Argentina Source: CNN | Added on July 1, 2016

    July 1 2016

    Entrevista en CNN con José Antonio Montenegro sobre Argentina 2/3| Source: CNN | Added on July 1, 2016 Entrevista en CNN con José Read more