Montag, 31. Januar 2022

Venezuela Venezuela’s opposition has suggested the U.S. ease economic sanctions on the country and some of its individuals, a potential policy shift aimed at bringing President Nicolas Maduro back to the negotiating table, according to National Assembly head Juan Guaido. The plan could be put in motion even before talks hopefully resume in Mexico, Guaido said, as the opposition pushes for “free and fair” elections as soon as possible as well as changes to Venezuela’s judicial system. The State Department did not respond to messages seeking comment. U.S. Ambassador to Venezuela James Story said on a January 6th webcast that they are “willing to lift, ease and change sanctions when there are negotiations that bring about changes to restore institutions and democra

 

Venezuela

Venezuela’s opposition has suggested the U.S. ease economic sanctions on the country and some of its individuals, a potential policy shift aimed at bringing President Nicolas Maduro back to the negotiating table, according to National Assembly head Juan Guaido. The plan could be put in motion even before talks hopefully resume in Mexico, Guaido said, as the opposition pushes for “free and fair” elections as soon as possible as well as changes to Venezuela’s judicial system. The State Department did not respond to messages seeking comment. U.S. Ambassador to Venezuela James Story said on a January 6th webcast that they are “willing to lift, ease and change sanctions when there are negotiations that bring about changes to restore institutions and democracy in Venezuela.” He did not mention easing sanctions before negotiations take place. Story’s office did not immediately respond to a message seeking comment. Messages to Venezuelan government leaders about the resumption of talks went unanswered. Talks between the government and the opposition broke down last year when Colombian businessman Alex Saab, a top ally of Maduro, was extradited to the U.S. from Cape Verde to face money laundering charges. Earlier this month, the Venezuelan president signaled he could return to the negotiating table if “positive actions” to restore dialogue in Mexico were taken.

Also last week, Venezuela’s National Electoral Council said Thursday that an opposition petition drive seeking to force a recall referendum against President Nicolás Maduro fell far short of the signatures needed, a result that had been expected because authorities allowed only a 12-hour period for the effort. The council said only 42,421 signatures were collected Wednesday, while 4.2 million were needed. As a result, “The National Council declares inadmissible the request for a referendum revoking the mandate of the president,” the council's director, Tania D’Amelio, said in statements broadcast on state television. Venezuela’s constitution allows voters to petition for a recall election once a president has served half of his term, as has Maduro, whose second six-year term ends in 2024. Twenty percent of voters in each state must sign such a petition to force a recall vote. But the electoral council, which has a 3-2 majority favorable to the government, ruled the nearly 4.2 million signatures needed would have to be collected within a 12-hour period at 1,200 electoral centers across the country. That would have required people to be signing every 12 seconds or so at each of the centers for the full 12 hours.

Last but not least, the National Assembly unanimously approved last Tuesday in an ordinary session the Draft Agreement in support of the actions undertaken before the Public Ministry to establish the alleged responsibilities of the former deputy Juan Guaidó against the people of the Bolivarian Republic of Venezuela. Guaido also called for his supporters to take to the streets next month as he plans to unseat President Nicolas Maduro in the 2024 election. He said that peaceful protests would take place across the country in a bid to oust Mr. Maduro.

 

Credit

Type / ISIN

Indicative price (%)*

Venezuela

VENZ 13 5/8 08/15/18

6

8

Venezuela

VENZ 9 ¼ 09/15/27

6

8

Venezuela

VENZ 7 3/4 10/13/19

6

8

Venezuela

VENZ 6 12/09/20

6

8

Venezuela

VENZ 12 3/4 08/23/22

6

8

Venezuela

VENZ 9 05/07/23

6

8

Venezuela

VENZ 8 1/4 10/13/24

6

8

Venezuela

VENZ 7.65 04/21/25

6

8

Venezuela

VENZ 11 3/4 10/21/26

6

8

Venezuela

VENZ 9 1/4 05/07/28

6

8

Venezuela

VENZ 11.95 08/05/31

6

8

Venezuela

VENZ 9 3/8 01/13/34

6

8

Venezuela

VENZ 7 03/31/38

6

8

Venezuela

ICSID Claims

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PDVSA

PDVSA 8 1/2 10/27/20

16

17.5

PDVSA

PDVSA 9 11/17/21

4

5

PDVSA

PDVSA 12 3/4 02/17/22

4

5

PDVSA

PDVSA 6 10/28/22

2

3

PDVSA

PDVSA 6 05/16/24

4

5

PDVSA

PDVSA 6 11/15/26

4

5

PDVSA

PDVSA 5 3/8 04/12/27

4

5

PDVSA

PDVSA 9 3/4 05/17/35

4

5

PDVSA

PDVSA 5 1/2 04/12/37

4

5

PDVSA

Promissory Notes

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PDVSA

Trade Receivables

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

 

 

Argentina

Argentina has announced a breakthrough deal with the International Monetary Fund. The country owes the IMF around $19bn this year, but it has struck an agreement to restructure payments. Argentina had spent three years trying to renegotiate repayment terms with the IMF and considered a deal vital to stabilizing an economy whose lengthy crisis has been hit as well by the pandemic. The deal would allow for spending increases on infrastructure, science and technology, and would protect targeted social programs, the IMF said, while energy subsidies would be reduced "in a progressive manner". The two sides will continue their work in the coming weeks towards reaching a staff-level agreement, the IMF added. Argentina's Economy Minister Martin Guzman said in a news conference that under the deal the country would target reducing its fiscal deficit to 0.9 per cent by 2024 and gradually end central bank financing to the Treasury.

 

Credit

Type / ISIN

Indicative price (%)*

Argentina

ARGENT 0 1/2 07/09/30

32.9

34.4

Argentina

ARGENT 1 07/09/29

34.1

35.6

Argentina

ARGENT 1 1/8 07/09/35

30.1

31.8

Argentina

ARGENT 2 1/2 07/09/41

34.8

35.3

Argentina

ARGENT 2 01/09/38

37.5

38.2

Argentina

ARGENT 1 1/8 07/09/46

30.6

32.2

Buenos Aires

BUENOS 3.9 09/01/37

40.7

43.4

Buenos Aires

BUENOS 2.85 09/01/37

35.9

38.9

Buenos Aires

BUENOS 3 1/2 09/01/37

32.7

39.3

Buenos Aires

BUENOS 3 09/01/37

31

33.6

Buenos Aires

BUENOS 2 09/01/37

32.8

33.2

Buenos Aires

BUENOS 2 1/2 09/01/37

33.8

36.9

YPF

YPFDAR 8 1/2 07/28/25

73.7

76.4

YPF

YPFDAR 8 3/4 04/04/24

88.3

92.2

YPF

YPFDAR 6.95 07/21/27

64.2

66.4

YPF

YPFDAR 7 12/15/47

56.6

62.2

YPF

YPFDAR 8 1/2 06/27/29

67.1

70.7

Banco Macro

BMAAR 6.643 11/04/26

83.2

86.9

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

 

 

Cuba

 

Type / ISIN

Indicative price (%)*

Claims against Republic of Cuba and Banco Nacional de Cuba

1

3

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

 

 

Ecuador

 

Credit

Type / ISIN

Indicative price (%)*

Ecuador

ECUA 5 07/31/30

85.3

87

Ecuador

ECUA 1 07/31/35

69.2

73.2

Ecuador

ECUA 0 07/31/30

57.4

58.5

Ecuador

ECUA 0 1/2 07/31/40

59.9

63.1

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

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