Venezuelan debt bonds soar in world markets
The recent announcement made by Venezuelan President Hugo Chávez about a new surgery has made an impact on stock markets
Venezuelan debt bonds surged on Monday in global markets following the news given last Saturday by President Hugo Chávez of a new surgery in Havana, according to financial sources.
At midday, the value of securities had rebounded from three to five points, on average. Global bonds, such as those of state-run oil company Petróleos de Venezuela (Pdvsa), had been on the rise in the morning.
The notes performance is linked with the president's choice of his Vice-President and Foreign Minister Nicolás Maduro as his successor if unable to take on a new term in office beginning on January 10, 2013.
Cristian Fonseca, a businessman in La Candelaria district downtown Caracas, was doing the accounts in his small shop office on Sunday December 21, 2008. The Christmas shopping season kept him working late hours into the night. It was around 11 p.m. and his phone rang. A friend broke the bad news to him over the telephone.