Wall Street Journal: Venezuela’s PdVSA to Offer to Swap $7 Billion in Debt ​

pdvsa-dog“They are doing this because they don’t have other choices,” said Russ Dallen, a managing partner at Caracas Capital, an investment bank.  Venezuela has about $12 billion in its international reserves, falling short of the $15 billion of its total debt maturing between the sovereign and PdVSA, according to Caracas Capital.  


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