Venezuela Venezuela's President Nicolas Maduro on Sunday denounced members of the European Union's (EU) electoral observation mission who monitored voting last weekend as "spies," and accused them of looking to "stain" the regional elections on their preliminary report. Local and regional elections enjoyed better conditions than during previous voting, the EU mission said on Tuesday, though they raised concerns about arbitrary bans on candidates for administrative reasons, delays in opening voting centers and "extended use of state resources in the campaign."

 

Venezuela Venezuela's President Nicolas Maduro on Sunday denounced members of the European Union's (EU) electoral observation mission who monitored voting last weekend as "spies," and accused them of looking to "stain" the regional elections on their preliminary report. Local and regional elections enjoyed better conditions than during previous voting, the EU mission said on Tuesday, though they raised concerns about arbitrary bans on candidates for administrative reasons, delays in opening voting centers and "extended use of state resources in the campaign."   Also last week, a Foreign, Commonwealth & Development Office in the UK spokesperson said:” While electoral conditions may have improved and the participation of more opposition parties was welcome, it is clear that the conditions necessary for free, fair elections fell well below the standards required. Opposition candidates were arbitrarily disqualified, state resources were channelled and media access skewed in favour of the Maduro regime, and the Venezuelan Supreme Court intervened in an inappropriate and politicised manner in the running of opposition parties. There remain serious structural deficiencies that need to be addressed.” As a reminder, the UK supreme court still has to rule over the gold held in the vaults of the Bank of England. Both Guaido and Maduro administrations are trying to get the $1bn equivalent of gold. Following the statement from the UK, Caracas called on the United Kingdom to put aside disrespect, interference and colonial practices as part of its foreign policy, and demanded a rectification of this statement, according to which the conditions for a free and fair election in Venezuela fell did not meet the required standards. The Venezuelan Government also ratified the commitment to strengthen the vitality of the participatory and protagonist democracy and reiterated to the United Kingdom the request for the immediate return of the gold seized. Last but not least, President Biden didn’t invite the Maduro government to the US democracy summit, the interim government of Juan Guaido, at first, wasn’t on the guest list but finally got an invite to participate.  The US previously announced that it will keep recognizing Juan Guaido as the legitimate leader of Venezuela until at least January 2023.

 

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 Argentina’s Vice-President Cristina Fernández de Kirchner broke her silence on a deal between the country and the International Monetary Fund, saying the approval will be the responsibility of the entire Congress. “It’s not Cristina,” she said in an open letter posted on her website. “It’s the 257 legislators and 72 senators who have the legal, political and historical responsibility to approve or not how and under what conditions the world’s largest debt in history with the IMF is going to get paid.”  She also addressed speculation of a power struggle between her and President Alberto Fernández, saying he’s the one calling the shots and it’s the responsibility of the president to come up with the IMF deal in the first place. “No one should be fooled over who’s making the policy decisions in Argentina,” she said in the letter, which was also shared by the president on Twitter. The public comments were her first since a bruising midterm elections two weeks ago, where the ruling coalition lost control of the senate, dealing a major setback for Fernández de Kirchner, who presides over the chamber.   Argentina’s dollar bonds extended declines Wednesday, with its bonds trading at an eight-month low, amid jitters ahead of a key week in which the government is expected to submit a bill with details on its upcoming economic plan. The nation’s $20.5-billion in dollar-denominated bonds due in 2035 fell to as low as 29.3 cents on the dollar, the lowest since March, dropping further below the 30 cent benchmark. The bonds have returned -16 percent year-to-date, the worst performance in Latin America after El Salvador.

 

Credit Type / ISIN Indicative price (%)* Argentina ARGENT 0 1/2 07/09/30 31.6 32.8 Argentina ARGENT 1 07/09/29 33.6 35.2 Argentina ARGENT 1 1/8 07/09/35 28.5 29.8 Argentina ARGENT 2 1/2 07/09/41 31.5 31.7 Argentina ARGENT 2 01/09/38 33.5 34.5 Argentina ARGENT 1 1/8 07/09/46 28.6 30 Buenos Aires BUENOS 3.9 09/01/37 37.3 40.6 Buenos Aires BUENOS 2.85 09/01/37 35.8 41.9 Buenos Aires BUENOS 3 1/2 09/01/37 34.4 37.5 Buenos Aires BUENOS 3 09/01/37 30.2 34.2 Buenos Aires BUENOS 2 09/01/37 27.5 29.4 Buenos Aires BUENOS 2 1/2 09/01/37 30 36 YPF YPFDAR 8 1/2 07/28/25 74.4 76.9 YPF YPFDAR 8 3/4 04/04/24 84.1 85.4 YPF YPFDAR 6.95 07/21/27 65.8 68.3 YPF YPFDAR 7 12/15/47 60.3 65.8 YPF YPFDAR 8 1/2 06/27/29 71.1 75.3 Banco Macro BMAAR 6 3/4 11/04/26 83.5 86.4 * Indicative price for positions with institutional size only. For smaller sizes please call desk