Venezuelan Ministry of Finance uses public agencies to place debt bonds

The Venezuelan Ministry of Finance has adjusted the way public debt should be handled and has announced that it will sell debt bonds to state-owned banks, pension funds and savings funds of the public sector. This is an attempt to speed up the respective bond issue within the framework of additional loans. Additionally, this move increases the funds available during the last few days of the presidential race.

The announcement was made on Monday. The bond issuance will amount to USD 2.3 billion.

The new bond issue will allow the Government to obtain in no time resources to meet payments of pensions and labor liabilities.