Halister News

(Bloomberg) -- "We believe that the government has decided to use the grace periods for all coupon payments in order to ensure that it has the resources available to make the amortization payments, for which there is no grace period," Torino chief economist Francisco Rodriguez writes in report.

• The most important driver of the opposition’s loss in gubernatorial elections appears instead to be inability to get out its voters
• Of Venezuela’s external obligations, 39% are in bonds and promissory notes, 21% in multilateral and bilateral loans and another 21% in trade credits and arrears: Torino
  • Variety of creditors allows the country to contemplate diverse strategies
• Current administration appears to privilege NY-law bondholders, renegotiate with bilateral creditors, and forcibly restructure others
  • "That strategy seems to privilege the creditors that have greater power to enforce their claims in international courts and more difficulties in solving collective action problems. One could imagine that, even in a more orderly restructuring strategy, a similar scheme of prioritization could be maintained"
• NOTE: Venezuela’s Behind on Its Debt and Facing Two Huge Payments

To contact the reporter on this story: Christine Jenkins in Bogota at cjenkins28@bloomberg.net To contact the editors responsible for this story: Arie Shapira at ashapira3@bloomberg.net Ney Hayashi