U.S. Secretary of State Antony Blinken vowed on Tuesday that Washington would work with partners in the region to maintain pressure on the government of Venezuelan President Nicolas Maduro for a peaceful return to democracy. Blinken's stern words came just a day after a senior White House official made clear in an interview with Reuters that the administration was in no rush to ease sanctions on Maduro's Socialist government

 LATAM

Venezuela

U.S. Secretary of State Antony Blinken vowed on Tuesday that Washington would work with partners in the region to maintain pressure on the government of Venezuelan President Nicolas Maduro for a peaceful return to democracy. Blinken's stern words came just a day after a senior White House official made clear in an interview with Reuters that the administration was in no rush to ease sanctions on Maduro's Socialist government. Blinken also gave no sign that Washington saw a diplomatic opening in Maduro's moves. The administration is reviewing crippling sanctions imposed on the OPEC nation by Biden’s predecessor, Donald Trump, Reuters reported.
Also last week, according to the news portal Petroguía, the state oil company PDVSA is carrying out an "investment opportunities plan" that will allow the reactivation of natural gas projects in the country. It seeks to finance itself from private national and foreign companies for $9.7bn to produce natural gas products to be commercialized abroad. PDVSA proposes to resume the development of 14 gas fields, both in the national territory and on its coasts.
Former Chávez and Maduro minister Pedro Calzadilla is the new National Electoral Council CNE president, and Enrique Márquez, former vice president of the National Assembly elected in 2015, is the new VP. Regarding the installation of the new CNE, the interim government presided by Juan Guaidó  said in a statement that "Maduro only seeks to lower the pressure, deceive and divide both the national democratic forces and the international community, and try to avoid a serious negotiation process." Guaidó further stated that "the (National) Assembly of the dictatorship, rejected and unknown by more than 60 countries, cannot impose the referee on an entire country".

 

Credit	Type / ISIN	Indicative price (%)*
Venezuela	VENZ 13 5/8 08/15/18	10	11
Venezuela	VENZ 9 ¼ 09/15/27	10	11
Venezuela	VENZ 7 3/4 10/13/19	9.5	10.5
Venezuela	VENZ 6 12/09/20	9.5	10.5
Venezuela	VENZ 12 3/4 08/23/22	10	11
Venezuela	VENZ 9 05/07/23	9.5	10.5
Venezuela	VENZ 8 1/4 10/13/24	9.5	10.5
Venezuela	VENZ 7.65 04/21/25	9.5	10.5
Venezuela	VENZ 11 3/4 10/21/26	10	11
Venezuela	VENZ 9 1/4 05/07/28	9.5	10.5
Venezuela	VENZ 11.95 08/05/31	10	11
Venezuela	VENZ 9 3/8 01/13/34	9.5	10.5
Venezuela	VENZ 7 03/31/38	9.5	10.5
Venezuela	ICSID Claims	Call desk for Prices
PDVSA	PDVSA 8 1/2 10/27/20	25	28
PDVSA	PDVSA 9 11/17/21	4.5	5.5
PDVSA	PDVSA 12 3/4 02/17/22	4.5	5.5
PDVSA	PDVSA 6 10/28/22	4.5	5.5
PDVSA	PDVSA 6 05/16/24	4.5	5.5
PDVSA	PDVSA 6 11/15/26	4.5	5.5
PDVSA	PDVSA 5 3/8 04/12/27	4.5	5.5
PDVSA	PDVSA 9 3/4 05/17/35	4.5	5.5
PDVSA	PDVSA 5 1/2 04/12/37	4.5	5.5
PDVSA	Promissory Notes	Call desk for Prices
PDVSA	Trade Receivables	Call desk for Prices

* Indicative price for positions with institutional size only. For smaller sizes please call desk 

 

Argentina

Argentina’s economy minister Martin Guzman is planning to use the country’s international reserves to make debt payments due this year to the IMF in the event that lawmakers approve a plan to use the IMF's upcoming distribution of new Special Drawing Rights (SDRs) for social purposes, Ambito Financiero reported. The leadership of the IMF, which plans to allocate fresh funds in August, recently agreed to support a new SDR allocation worth $650bn, the largest in its history. That would effectively mean more assets are available to member nations, should they wish to use them. Some experts have predicted Argentina may gain access to an additional $4.35bn under the move, the Buenos Aires Times reported.

Credit	Type / ISIN	Indicative price (%)
IMPSA	IMPSA 7 ½ 12/30/25	Call desk for Prices
Argentina	ARGENT 0 1/8 07/09/30	35,3	36
Argentina	ARGENT 8.28 12/31/33	47,1	56,5
Argentina	ARGENT 7 1/8 06/28/17	40,7	44,6
Argentina	ARGENT 3 3/4 12/31/38	38,3	47,7
Argentina	ARGENT 5 7/8 01/11/28	39,3	49
Argentina	ARGENT 1 07/09/29	37	38,5
Argentina	ARGENT 3.38 12/31/38	38,5	43,7
Argentina	ARGENT 7 1/2 04/22/26	45,5	49
Argentina	ARGENT 6 7/8 04/22/21	47,9	49,5
Argentina	ARGENT 7.82 12/31/33	42,6	49,5
Argentina	ARGENT 5 5/8 01/26/22	42,2	48,5
Argentina	ARGENT 0 1/8 07/09/35	30,8	31,7
Argentina	ARGENT 6 7/8 01/26/27	42,1	45,9
Argentina	ARGENT 6 7/8 01/11/48	42,1	47,1
Argentina	ARGENT 0 1/8 01/09/38	36,8	37,6
Argentina	ARGENT 0 1/8 07/09/46	30,8	31,9
Argentina	ARGENT 4 5/8 01/11/23	42	51,3
Provincia de Buenos Aires	BUENOS 7 7/8 06/15/27	42	44,4
Provincia de Buenos Aires	BUENOS 9.95 06/09/21	44,8	46,8
Provincia de Buenos Aires	BUENOS 6 1/2 02/15/23	40,1	44,4
Provincia de Buenos Aires	BUENOS 4 05/15/35	40,4	42
Provincia de Buenos Aires	BUENOS 9 5/8 04/18/28	42,3	46,8
Banco Macro	BMAAR 6 3/4 11/04/26	78,9	81,2
Galiar	GALIAR 8 1/4 07/19/26	89	90,5
Pampa Energia	PAMPAR 9 1/8 04/15/29	83,9	86,4
YPF	YPFDAR 8 1/2 07/28/25	73	76
YPF	YPFDAR 8 3/4 04/04/24	82,9	85
YPF	YPFDAR 6.95 07/21/27	61,6	63,9
YPF	YPFDAR 7 12/15/47	56,7	59,3
YPF	YPFDAR 8 1/2 06/27/29	64,1	68,2
*For any other bonds please call desk for prices

* Indicative price for positions with institutional size only. For smaller sizes please call desk