Last week, five political organizations issued a joint statement to support the continuity of the interim government until free and fair elections are held in Venezuela. Popular Will (Voluntad Popular, VP) and minority opposition parties Venezuela Project (Proyecto Venezuela, PV), R Cause (La Causa R), Citizen Meeting (Encuentro Ciudadano, EC), and the Social Christian Party (Partido Social Cristiano, COPEI) support the preservation of the management of the National Assembly elected in 2015 (2015AN) as the last legitimately elected power in the country and, based on Article 233 of the Constitution, and justify its continuity “until it is replaced by another [institution] validly elected.”

 

Venezuela Last week, five political organizations issued a joint statement to support the continuity of the interim government until free and fair elections are held in Venezuela. Popular Will (Voluntad Popular, VP) and minority opposition parties Venezuela Project (Proyecto Venezuela, PV), R Cause  (La Causa R), Citizen Meeting (Encuentro Ciudadano, EC), and the Social Christian Party (Partido Social Cristiano, COPEI) support the preservation of the management of the National Assembly elected in 2015 (2015AN) as the last legitimately elected power in the country and, based on Article 233 of the Constitution, and justify its continuity “until it is replaced by another [institution] validly elected.” However a Bloomberg news last previously mentioned that three out of four principal opposition parties, as well as some members of Guaido’s own Popular Will party, oppose the idea of an extension of the mandate of Juan Guaido. However Juan Guaidó said last Wednesday that he will not leave his position as interim president until he achieves free elections, since he does not plan to "deliver to Maduro" the Republic.    With regards to the regional elections, last week the European Union Electoral Observation Mission for the 21-November elections said will present two reports on the process, and the first will be two days after the regional and local elections, the second during the first two months of 2022. Also last week, a three-member Panel of Electoral Experts, sent by the UN, arrived in Venezuela and began a deployment in the country. It was announced a few weeks ago and will carry out an independent and technical evaluation of the electoral system in the context of the regional and municipal elections on November 21.

 

Credit Type / ISIN Indicative price (%)* Venezuela VENZ 13 5/8 08/15/18 9.5 10.5 Venezuela VENZ 9 ¼ 09/15/27       9.5 10.5 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 9.5 10.5 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 9.5 10.5 Venezuela VENZ 9 1/4 05/07/28 9.5 10.5 Venezuela VENZ 11.95 08/05/31 9.5 10.5 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 5 6 PDVSA PDVSA 12 3/4 02/17/22 5 6 PDVSA PDVSA 6 10/28/22 3        4 PDVSA PDVSA 6 05/16/24 5 6 PDVSA PDVSA 6 11/15/26 5 6 PDVSA PDVSA 5 3/8 04/12/27 5 6 PDVSA PDVSA 9 3/4 05/17/35 5 6 PDVSA PDVSA 5 1/2 04/12/37 5 6 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 Last week, the BA Times reported that President Alberto Fernández asked for "greater flexibility to honour" Argentina’s debt with the International Monetary Fund (IMF), when addressing a methane panel organised by the United States in the framework of the COP26 summit in Glasgow. Also last week, Argentina made a payment of $390m Monday to the International Monetary Fund for interest on a $44bn loan it is seeking to renegotiate, the government said. Argentina has received $44bnof a $57bn loan from the IMF arranged under former president Mauricio Macri. If no agreement is reached, it will have to pay the Fund about US$19.3bn in 2022, another $19.5bn in 2023 and $4.9bn in 2024, according to government estimates.

 

Credit Type / ISIN Indicative price (%)* Argentina ARGENT 0 1/2 07/09/30 34.1 34.4 Argentina ARGENT 1 07/09/29 35.5 36.5 Argentina ARGENT 1 1/8 07/09/35 30 31.6 Argentina ARGENT 2 1/2 07/09/41 33.7 34.1 Argentina ARGENT 2 01/09/38 35.7 36.2 Argentina ARGENT 1 1/8 07/09/46 29.8 32.4 Province of Buenos Aires BUENOS 3.9 09/01/37 41.5 45 Province of Buenos Aires BUENOS 2.85 09/01/37 39.3 40 Province of Buenos Aires BUENOS 3 1/2 09/01/37 36 39.6 Province of Buenos Aires BUENOS 3 09/01/37 34.1 35.7 Province of Buenos Aires BUENOS 2 09/01/37 28.3 34.3 Province of Buenos Aires BUENOS 2 1/2 09/01/37 33.3 35.4 YPF YPFDAR 8 1/2 07/28/25 77.5 79.8 YPF YPFDAR 8 3/4 04/04/24 87.6 90.3 YPF YPFDAR 6.95 07/21/27 67.9 71.1 YPF YPFDAR 7 12/15/47 63.3 65.6 YPF YPFDAR 8 1/2 06/27/29 73.9 77.7 Banco Macro BMAAR 6 3/4 11/04/26 83.5 86.6 * Indicative price for positions with institutional size only. For smaller sizes please call des