Venezuela spoils debt record, leaves investors baffled by Sidetur silence

Venezuela’s finance ministry is puzzling investors by refusing to communicate over a $74m payment missed on July 20 by Sidetur, a steel company that was expropriated by the government last year, writes Olly West.

  • By Mark Baker
  • 16 Aug 2013
Some bondholders in the company worry that the missed payment, which is minuscule for oil-rich Venezuela, could signal a change in the government’s approach to debt obligations. Some believe they could resort to legal action should the payment not be made, raising the prospect of a prolonged battle ...

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