The moral maze of getting rich on Venezuela debt

Nicolas Maduro
By Oliver West
24 Aug 2017

Venezuela’s bond market access is already negligible. If market participants want to take a moral position, they need to think about more than just new issues.

Credit Suisse has banned the trading of two recently-issued Venezuelan bonds, most notably the PDVSA 2022s, which Goldman Sachs bought $2.8bn of from the Swiss bank at a heavy discount in May. This caused outrage as the world watches the Maduro government oversee a devastating economic crisis amid accusations ...

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