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

https://www.forbes.com/sites/kenrapoza/2018/11/26/odds-of-venezuela-getting-its-act-together-in-2019-are-zero/#6f71ec6633ab

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