Daily Comment 25SEP2017

September 25, 2017gquiroga

Venezuela: – Last Friday, the government of Canada announced economic sanctions on key Venezuela’s officials which affects 40 individuals who have played a key role in Maduro´s regime. In detail, these sanctions prohibit any person in Canada or any Canadian

Daily Comment 21SEP2017

September 21, 2017gquiroga

Venezuela: – Yesterday rumors started of the country being late on the payment of an USD185mn coupon of the VENZ27, which had to be canceled on September 15. Nevertheless, near the end of the day the national public credit office

Daily Comment 19SEP2017

September 19, 2017gquiroga

Venezuela: – According to some new information, it seems that PetroChina Americas is revising its oil for cash agreements with PDVSA after the US sanctions were imposed, which would made them unable to act as an agent to commercialize Venezuelan

Daily Comment 25AUG2017

August 25, 2017gquiroga

Venezuela -Yesterday, it was known that some representatives of the Venezuelan government has been trying to reach a general agreement in China that comprises the creation of a sub-fund for the repurchase of Venezuelan debt –sovereign and PDVSA’s- which will allow

Daily Comment 24AUG2017

August 24, 2017gquiroga

Venezuela – Venezuela and PDVSA bonds experienced across the board losses yesterday on account of a report that suggested the US government is weighing new financial sections to Venezuela. According to the WSJ, the new sanctions would include blocking trades

Daily Comment 23AUG2017

August 23, 2017gquiroga

Venezuela – Yesterday, President Maduro held a press conference in Caracas with international reporters and claimed that Venezuela will overcome sooner than expected “the financial blockade imposed by the US”. Likewise, the president stressed that the South American country is

Daily Comment 22AUG2017

August 22, 2017gquiroga

Venezuela – Due to the upcoming regional elections, the legislator chief of the opposition party in the National Assembly stated that the opposition is looking to run a primary election on 10 September –one month before the regional elections- in

Daily Comment 18AUG2017

August 18, 2017gquiroga

Venezuela – The new National Constituent Assembly (ANC) convoked, for today’s session, to the ordinary National Assembly in order to comply with the constituent decree of the harmonious coexistence of public powers and the constituent power. In simple words, they

Daily Comment 17AUG2017

August 17, 2017gquiroga

Venezuela – The newly Constituent Assembly-appointed Attorney General and former Ombudsman Tarek William Saab requested the Supreme Court to apprehend lawmaker German Ferrer on alleged corruption charges. According to Saab, Ferrer was part of an extortion network that operated from

  • Monday, September 25 2017
    Venezuela:

    - Last Friday, the government of Canada announced economic sanctions on key Venezuela’s officials which affects 40 individuals who have played a key role in Maduro´s regime. In detail, these sanctions prohibit any person in Canada or any Canadian outside the country to have any type of economic relation with these members of the Venezuelan government. We see that the consequences of this sanctions are very similar to those applied by the United States government, affecting only individuals, reason why we do not expect the conse

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  • Thursday, September 21 2017

    Venezuela:

    - Yesterday rumors started of the country being late on the payment of an USD185mn coupon of the VENZ27, which had to be canceled on September 15. Nevertheless, near the end of the day the national public credit office said that it sent the money on time to the corresponding financial institutions and the delay is due to "operational changes" in order to make future financial transactions effective. Furthermore, the credit institution reiterated Venezuela’s commitment in paying its debt and ca

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  • Tuesday, September 19 2017
    Venezuela:

    - According to some new information, it seems that PetroChina Americas is revising its oil for cash agreements with PDVSA after the US sanctions were imposed, which would made them unable to act as an agent to commercialize Venezuelan crude. In detail, there is no change –as the sanctions detailed- in the ongoing contracts; the effect comes for the intention to renew or to extent the terms of the existence contracts. Read More >>

  • Friday, August 25 2017
    Venezuela

    -Yesterday, it was known that some representatives of the Venezuelan government has been trying to reach a general agreement in China that comprises the creation of a sub-fund for the repurchase of Venezuelan debt –sovereign and PDVSA’s- which will allow the government to take advantage of the savings made when buying at discount the bonds with maturities in 2017 and 2018, savings are calculated around USD700mn. The final strategy will be to swap at maturity the bonds that are repurchase for new PDVSA’s debt with maturities

    Read More >>

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