Venezuela Bond Investors Say the End May Be Near for Maduro’s Regime
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Country’s debt is posting its biggest advance in one year
- Trump recognizes Guaido as Venezuela leader, rebuking Maduro
Venezuelan bonds are posting their biggest gains in a year as President Nicolas Maduro’s opponents gain momentum in their efforts to oust him amid large protests throughout the country. World leaders are now saying they’ll recognize Juan Guaido, the head of the National Assembly, as the interim president.
The thinking is that a new administration will be in a better position to bolster oil production and restart economic growth after years of economic crisis under Maduro’s socialist regime. A new leader could also open up the way for a bond restructuring agreement after the government and state-owned oil company fell behind on $9 billion of payments, sending prices for most securities tumbling below 30 cents on the dollar. Sanctions have prevented investors from pursuing any sort of accord with Maduro’s administration…
Venezuela Bond Investors Say the End May Be Near for Maduro’s Regime
