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Latin American Economy & Business - May 2017 (ISSN 1741-7430)

Venezuela: Default concerns ease…for now

In the midst of significant social unrest, the government led by President Nicolás Maduro made three large scheduled bond repayments on time on 12 April, relatively unnoticed. These latest payments reinforce the perception that the left-wing regime intends to continue to service its external debt commitments, come what may. Yet the continued deterioration in the country’s underlying economic conditions, combined with few sources of fresh credit, suggest that a default risk is still high.

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