Article

2011-02-12 Caribbean-Latin America

Pdvsa borrows money at high rates to curb dollar's rally

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Posted by Fred 2011-02-12 00:00|| || Front Page|| [4 views ] Top
File under: Commies

#1 The interest rate paid by the state-run oil company PetrÃ³leos de Venezuela (Pdvsa) is soaring.

Buyers of Venezuelan government bonds are betting that Chavez will want to continue paying interest (never mind principal) on those bonds. 12.75% is paltry in light of the specter of non-payment.

Posted by Zhang Fei 2011-02-12 19:37|| 2011-02-12 19:37|| Front Page Top

#2 Expect to see a lot more cocaine being smuggled through Venezuela to help facilitate these bond interest payments.

Posted by tipper 2011-02-12 20:12|| 2011-02-12 20:12|| Front Page Top

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