Posted on 08/16/2018 5:38:41 AM PDT by C19fan
Venezuela faces payments of $1.1 billion in interest and principal on two bonds maturing on Wednesday, but investors expect the cash-strapped nation to continue its pattern of no payments.
The government of President Nicolas Maduro has halted almost all foreign debt payments, leaving Venezuela, which has a debt load of around $60 billion in direct and subsidiary foreign bonds, in default.
(Excerpt) Read more at reuters.com ...
Peter is destitute
Paul is screwed
Why is it that college kids want an economic system where the government promises everything but can't even produce toilet paper?
The two bonds traded at $.28 on the dollar earlier this week.
I wonder who owns a lot of this debt?
A quick history lesson. At the demise of the USSR, Russia assumed all the of the debt. Very little was paid off but what they did pay, bought a lot of influence.
$60 billion, what a bunch of pikers, ours is that every 2 days (approx).
In other news, sun expected to set in the west today.
At this point vulture investors hoping to seize overseas assets. Or is Chelsea Clinton’s loser husband back in the business of gambling with junk sovereign debt?
Does the business press really believe this? Do they really believe that a bond default is going to be the thing that sparks a "crisis" for Maduro? They're living in fantasyland. There is no chance that any of the $60 billion of bonds are going to be repaid. Not even a little chance. Maduro is way past the point of caring about international bondholders. His country is on the brink of literal mass scale anarchy because people can't eat.
That seems a bit more than they are worth.
Venezuela can’t pay their bond holders?
No kidding.
The socialist paradise of Venezuela.....
No food.
No medicine.
No electricity.
No water.
I don’t understand how they’ll do it, but I’m pretty sure they’ll find a way to run out of air.
No problem, rent a xerox machine and print more money.
On top of that, 2.5 million Venezuelans, out of 32 million total, have recently left. Pretty soon, the only people left will be the ones who voted for Maduro.
“There is no chance that any of the $60 billion of bonds are going to be repaid.”
You are right if you mean Maduro and his government are never going to repay them. But Venezuela will have a different government (hopefully soon). It is basically a rich country in terms of resources. A new government will want to get re-connected to the rest of the world’s economy. It will probably happen over a stretched out period, but the bonds will eventually be paid. How long it will take determines whether a 28 cent investment that will return $1 (plus at least some of the interest) is a good one.
Because college kids think they know everything but increasingly can’t know which restroom should be used?
People have stopped taking showers.
Think about it. Venezuela is hot and humid and nobody is taking showers.
The body odor alone could be the final straw in Maduro's regime.
Talk about not being able to provide the basic necessities. No food. No water. No toilet paper. High violence and crime.
Inflation so high that even those that work, can't earn enough to buy non-existent food that is not on the shelves in the markets.
Makes one wonder what all those Maduro government officials are doing all day long to run the country into the ground. Maduro looks well-fed. Doesn't look like he's deprived himself of any meals.
Socialism at it's finest.
who ever arranged those bonds should be shot
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