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
Monday December 10, 2012 02:48 PM
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.
Oil and gas; gold and diamonds; coltan, coal, iron, bauxite, copper: the Venezuelan economy is extractive, as it relies on taking mineral substances from the earth for sale or trade.