Venezuela’s socialist ruling party claimed sweeping victories Sunday night in the first elections to include the country’s top opposition parties in nearly four years. Political allies of President Nicolás Maduro won 20 out of 23 gubernatorial offices across the country, according to preliminary results from the electoral council

 

Venezuela Venezuela’s socialist ruling party claimed sweeping victories Sunday night in the first elections to include the country’s top opposition parties in nearly four years. Political allies of President Nicolás Maduro won 20 out of 23 gubernatorial offices across the country, according to preliminary results from the electoral council. The National Electoral Council (CNE) announced on Sunday the results of the electoral process to renew the regional and municipal authorities, held on November 21, 2021. It was indicated that turnout was 41.80% and a total of 8,151,793 votes, so an abstention rate of 58.2% was registered. It is one of the country’s lowest participation rates in the past two decades. This is a larger victory compared with  2017 regional elections when Maduro's government won 18 governorships and the opposition 5 governorships. The high abstention favored the government, the previous elections had a total participation rate of 61.14% unlike the 41.80% for the November 2021 elections.  Guaidó, Leopoldo López and other opposition hardliner leaders will likely continue to argue that the elections were not free and fair and will try to use the high abstention numbers to bolster their case. The EU observers’ report will be crucial, it is scheduled that the EU will speak on Tuesday, and will present a final report in two months. For the time being, the electoral results give some more legitimacy to Maduro.

 

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 government will seek a deal with the International Monetary Fund (IMF) over a new financing programme before sending an economic plan to Congress detailing “certainties,” according to new reports, the BA Times reported.  Speaking to a local radio station on Friday, Economy Minister Martín Guzmán said that the government wanted to reach “understandings” with the IMF before seeking bipartisan support for any new deal, likely to be an Extended Fund Facility (EFF) agreement lasting beyond the current administration’s term in office. Argentina owes the IMF more than $44bn from the record $57bn credit-line agreed in 2018 by the previous government led by former president Mauricio Macri.  The government will present a proposal to Congress, Guzmán said Friday, but only once an understanding is reached with the IMF staff. He did not detail what specific points are currently under discussion.

 

Credit Type / ISIN Indicative price (%)* Argentina ARGENT 0 1/2 07/09/30 33.3 34.6 Argentina ARGENT 1 07/09/29 35.3 37.3 Argentina ARGENT 1 1/8 07/09/35 29.4 31.2 Argentina ARGENT 2 1/2 07/09/41 33.6 33.9 Argentina ARGENT 2 01/09/38 35.6 36.6 Argentina ARGENT 1 1/8 07/09/46 29.2 31.8 Province of Buenos Aires BUENOS 3.9 09/01/37 41.5 42.9 Province of Buenos Aires BUENOS 2.85 09/01/37 37.9 39.3 Province of Buenos Aires BUENOS 3 1/2 09/01/37 37.2 39.2 Province of Buenos Aires BUENOS 3 09/01/37 33.4 34.9 Province of Buenos Aires BUENOS 2 09/01/37 29.3 32 Province of Buenos Aires BUENOS 2 1/2 09/01/37 32.5 36 YPF YPFDAR 8 1/2 07/28/25 77.4 78.9 YPF YPFDAR 8 3/4 04/04/24 87.6 90.1 YPF YPFDAR 6.95 07/21/27 67.3 70.4 YPF YPFDAR 7 12/15/47 63.5 65.2 YPF YPFDAR 8 1/2 06/27/29 73.6 77.7 Banco Macro BMAAR 6 3/4 11/04/26 83.7 87.8 * Indicative price for positions with institutional size only. For smaller sizes please call desk