PDVSA returns to strong HY market

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PDVSA returns to strong HY market

PDVSA
Flanked by Oil Minister Rafael Ramirez, left, and National Assembly's President Diosdado Cabello, Venezuela's President Nicolas Maduro greets supporters upon his arrival to the National Assembly for his annual state-of-the-nation address in Caracas, Venezuela, Wednesday, Jan. 15, 2014. (AP Photo/Fernando Llano) | Fernando Llano/AP/Press Association Images

Talk of Venezuela’s government taking a fancy to economic pragmatism may be overdone according to some, but state oil company PDVSA’s decision to issue new bonds shows that the authorities have at least learnt some basic financial lessons.

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