Wednesday 28 November 2018

Vene slips lower

Vene should be a prosperous, investment grade, OPEC member 

Instead, its a bankrupt, socialist, terrorist financing, narco state run by a small cadre of oligarchs 

At 20c on the $ the debt is still fairly widely owned... At 20c the government and PDVSA debt is worth about $20bn

If it drops to 10c next year it will only be ~$10bn, which is peanuts if regime change happens. But who knows when that will be

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