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...“Bukele continues to enjoy sky-high, really unprecedented approval ratings,” said Risa Grais-Targow, a director at Eurasia Group....
...Bond prices fell in response....
...“[This] should have helped to minimize the need to issue in January, but the loan does not seem to have materialized,” said Risa Grais-Targow, director for Latin America at the Eurasia Group....
...Creditors of Venezuela’s partially defaulted $70bn of bonds are also starting to take action....
...Sanctions imposed in August barred US citizens from buying new PDVSA bonds with a maturity of more than 90 days....
...All of Venezuela’s foreign bonds are governed by New York law....
...The central bank recently sold nearly $1bn of bonds to Goldman Sachs and Nomura, but the international outcry over the deal means it will struggle to perform the same trick again....
...There are also riskier LBO bonds in the works that are eschewing the loan market altogether....
...“This [Supreme Court] decision is at least partially driven by financial concerns,” said Risa Grais-Targow, Latin America director at Eurasia, the risk consultancy....
...Despite sitting on the world’s largest energy reserves, Venezuela also continues to flirt with default, this week narrowly closing a $3.4bn bond swap that bought it some financial breathing space....
...The IDB and World Bank are pressing for reform progress but Risa Grais-Targow at consultancy Eurasia sees a tough road ahead in the opposition-controlled Congress....
...The fall in reserves had raised concerns about Venezuela’s ability to pay its debts, so the influx brought some relief to rattled markets, fuelling a small rally off recent lows in Venezuelan bonds, which...
...Its international bonds now yield a prohibitive 24 per cent....
...On Wednesday, BNP Paribas recommended buying Venezuelan bonds....
...Back to beyondbrics Related reading: Ecuador and bond markets: defaulter is back with a $2bn vengeance, beyondbrics Ecuador returning to bond market after 2008 default, FT Ecuador bonds: saying adios to...
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