Monday, July 16, 2007

Venezuela May Buy Back International Bonds in Fourth Quarter, Cabezas Says

(Bloomberg) -- Venezuela's Finance Minister Rodrigo
Cabezas said the government may repurchase some of its
international bonds during the fourth quarter as part of a plan
to cut its reliance on foreign markets.

Venezuela hasn't sold foreign debt this year and in 2006
reduced foreign bond borrowing by $4 billion, either by
repurchases or redemptions. Much of the government's spending is
funded by President Hugo Chavez's off-budget National
Development Fund, known as the Fonden.


Read more at Bloomberg Bonds News

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