Venezuelan state-run oil company rules out a US dollar bond sale
The president of Venezuelan state owned oil company Pdvsa noted that the company will not take on further debts via US dollar bond sale
"We are issuing no bonds, and, particularly, we will not continue issuing bonds to take on debts in US dollars. That is not envisaged," the minister told the press.
The oil company's debt ended in 2012 at USD 40.02 billion, 14.7% above the numbers recorded a year earlier, AFP reported.
Translated by Jhean Cabrera
President Nicolás Maduro is not only the heir to the throne, but also to an economic crisis which demanded urgent measures to rectify the course. The crisis showed up in two aspects: a 50% inflation estimate, and shortage of staples ranging between 70% and 98%. These issues might hit the President's poor popularity; considering his feeble electoral victory of 1% over his challenger.