Daily Comment 16JAN2017

January 16, 2018gquiroga

Venezuela: – Yesterday the President Nicolas Maduro gave its yearly speech which should be something close to the state of the union and that according to the constitution should be presented in front of the National Assembly. However, this year

Daily Comment 15JAN2017

January 15, 2018gquiroga

Venezuela: – The dialogue meeting held in the Dominican Republic between members of the opposition and the government last weekend culminated again without any results. International mediators indicated that although some agreements were reached, several points remain pending and both

Daily Comment 12JAN2017

January 12, 2018gquiroga

Venezuela: – The National Electoral Council (CNE in Spanish) announced that it has approved the schedule for the validation of political parties that did not participate in the last municipal elections which it will take place on 27 and 28

Daily Comment 11JAN2017

January 11, 2018gquiroga

Venezuela: – The situation regarding Venezuela’s debt with Brazil received yesterday two mixed updates, as the Brazilian Ministry of Finance reported that the first paid an old debt but that it is still in arrears with another payment. In detail,

Daily Comment 10JAN2017

January 10, 2018gquiroga

Venezuela: -Yesterday the rating agency S&P decided to downgrade de specific rating for the sovereign global bond due 2020 to “D” from “CC” as the Republic has failed to pay USD45mn in coupon payments within the 30- day grace period

Daily Comment 09JAN2017

January 9, 2018gquiroga

Venezuela: – Amid the absence of liquidation of official currencies, the government announced again its exchange strategy for 2018, based on the issuance of the crypto currency “petro” and the restructuring of the Dicom system. In details, the head of

Daily Comment 19DEC2017

December 19, 2017gquiroga

Venezuela: – The President Nicolas Maduro affirmed yesterday that 72% of the Budget of 2018 – approved by the National Constituent Assembly and estimated at VEF36tn – will be earmarked for social investment, with emphasis in the social missions and

Daily Comment 18DEC2017

December 18, 2017gquiroga

Venezuela: – This weekend in a meeting between the President Nicolas Maduro and the CEO of the Russian Oil company, Igor Sechin, was signed an agreement that assigns licenses to Rosneft in order to develop two gas fields in Venezuela’s

Daily Comment 14DEC2017

December 14, 2017gquiroga

Venezuela: – Yesterday, it took place the final auction of the ISDA in order to determine the payout for holders of credit-default swaps of PdVSA, which resulted in a valuation of the company bonds of 17.625 cents per dollar. We

  • Tuesday, January 16 2018

    Venezuela:

    - Yesterday the President Nicolas Maduro gave its yearly speech which should be something close to the state of the union and that according to the constitution should be presented in front of the National Assembly. However, this year and arguing the illegality of the National Assembly, the decision was to give his speech in front of the National Constituent Assembly. In detail, more than a state of the union this was one of the usual speech of the President with not much data to collect. Among

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  • Monday, January 15 2018

    Venezuela:

    - The dialogue meeting held in the Dominican Republic between members of the opposition and the government last weekend culminated again without any results. International mediators indicated that although some agreements were reached, several points remain pending and both parties will meet again this Thursday, January 18. In our opinion, it was expected that results would not be achieved,as we have been saying we believe that the most likely to happen is that the negotiation rounds will culmin

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  • Friday, January 12 2018

    Venezuela:

    - The National Electoral Council (CNE in Spanish) announced that it has approved the schedule for the validation of political parties that did not participate in the last municipal elections which it will take place on 27 and 28 of January. The process will be carried out to comply with the order of the National Constituent Assembly (ANC), which has as its sole purpose to be another obstacle for the opposition. We believe that at the moment the attention is focused on the negotiations in the Dom

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  • Thursday, January 11 2018

    Venezuela:

    - The situation regarding Venezuela’s debt with Brazil received yesterday two mixed updates, as the Brazilian Ministry of Finance reported that the first paid an old debt but that it is still in arrears with another payment. In detail, the ministry informed that Venezuela paid USD262.5mn – corresponding to the May-August period of 2017 – on 5 January as part of their commitments under the Reciprocal Credit and Payments Agreement (CCR), which is part of the benefits of the Latin American In

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