Cost of underwriting Venezuela's debt rises after gubernatorial election
Insurance to protect the creditors of Venezuelan sovereign bonds increased on Monday after the favorable results for pro-government candidates in the election of Sunday, December 16
Credit default swaps (CDS) had dropped since President Chávez appointed a successor on December 8. The action raised the expectations about his stepping down after 14 years in office, Reuters cited.
Nevertheless, on Monday the CDS of the five-year debt bonds climbed 28 base points to 647 base points, according to Markit, a leading, global financial information services company.
Additionally, Venezuela's benchmark bond, maturing in 2007, shed 1.5 cents to USD 99.8.
Alarmed because of the emotional breakdown suffered by his ally and his destiny; Fidel Castro requested asylum for deceased Venezuelan President Hugo Chávez in Madrid back on April 11, 2002. "The story had been much darker and more entangled than what some people's imagination has wanted to believe in and disclose," former Spain's President, José María Aznar, upholds in his autograph book published by late 2013.