Venezuela "fully prepared" to cope oil price volatility and will honor sovereign debt

Venezuela “fully prepared” to cope oil price volatility and will honor sovereign debt

Wednesday, October 22nd 2014 - 01:52 UTC

Full article 9 comments

Venezuela's Finance Minister Rodolfo Marco said on Tuesday that the Mercosur member was “fully prepared” to cope with price volatility on the global oil market and would honor a 3 billion dollar bond payment due next week. Read full article

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Anglotino
So hard to hear anything th Venezuelan government says over the noise of the printing presses.
Oct 22nd, 2014 - 02:32 am - Link - Report abuse 0
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Troy Tempest
...and the guzzling of Kool-Aid
Oct 22nd, 2014 - 05:47 am - Link - Report abuse 0
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yankeeboy
They have gold they can sell. Gold they paid a high price for and now will have to sell at a low price. Oh well.
I love watching Socialist/Marxists regimes collapse.
love it.
Oct 22nd, 2014 - 01:21 pm - Link - Report abuse 0
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Anglotino
Seems they have defaulted already. To the Chinese!!!!

http://blogs.ft.com/beyond-brics/2014/10/22/venezuelas-latest-surprise-default-china/
Oct 22nd, 2014 - 08:11 pm - Link - Report abuse 0
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ilsen
The place is going to hell.
Chavez orchestrated the mess by replacing solid technical people with his uneducated lackeys. In the name of the 'people' you get the dregs of society in charge and they appoint idiots to run everything. These people then become 'unsackable' and entrenched because the Gov. is dependent on them for support.
The rest is a race to the bottom.

Meanwhile the Gov. is spending way more than it can afford,
Interesting blog, here;
http://venezuela-europa.blogspot.co.uk/2014/10/venezuelas-budget-watch-out-for-your.html

and some good insight, here;
Venezuela’s Oil Industry So Clogged It Needs Historic Import from Algeria:
Crumbling Infrastructure, Prices Place Pressure on Maduro Regime

http://venezuela-europa.blogspot.co.uk/2014/10/venezuelas-budget-watch-out-for-your.html

and the ideological crazyness and the politicization of Education
continues to be implemented, here;
http://venezuela-europa.blogspot.co.uk/2014/10/venezuelas-budget-watch-out-for-your.html

Venezuela is indeed facing some very dark times in 2015.
Oct 22nd, 2014 - 08:16 pm - Link - Report abuse 0
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yankeeboy
5. Wait until the TX and LA refineries stop be able to refine the muck V has. Then they're really going to be out of luck.
I think thats less than 5 yrs away before they're fully converted to lt sweet crude refining.
Oct 22nd, 2014 - 08:53 pm - Link - Report abuse 0
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gordo1
Ed Balls could sort them out - why doesn't Ed Milliband send him over there as British aid to Venezuela?
Oct 24th, 2014 - 07:25 pm - Link - Report abuse 0
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ilsen
Venezuela will only accept 'Aid' from Cuba, such is the state of affairs there.
Tragic really.
Oct 26th, 2014 - 12:42 pm - Link - Report abuse 0
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Don Alberto
I see that Venezuela's debt is the riskiest on the world, yielding 15.42 percentage points. I would demand 108 percent, 3 percent interest and 105 percent for the risk.
Oct 26th, 2014 - 07:12 pm - Link - Report abuse 0
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