Economic tidbits

April 5, 2005

-The Government will issue this week a US$ 1 billion issue of a new
bond which matures on 2025. It will have a coupon between 7.6% and 8.1%
and will be sold in Bolívars only to local investors. This is similar
to earlier bonds, which are nothing but a way to buy foreign currency
at a price higher than the official controlled rate, but cheaper than
the pararllel rate. This benefits mostly those that have lots of
Bolívars and speculators.

-After only four months in his position, President Chávez replaced the Head of the new Government telecom company CVG Telecom.

-Amuay refinery shut down by electrical failure will likely reopen on Friday, according to PDVSA

This entry was posted on April 5, 2005 at 11:04 am and is filed under Venezuela.

Leave a comment