- PABLO ESCALONA
11 de abril de 2017 08:57 AM
Actualizado el 13 de abril de 2017 13:30 PM
State-run oil company Petróleos de Venezuela (Pdvsa) has accumulated enough resources in its own accounts, both by reducing transfers to the Central Bank of Venezuela (BCV) and by tapping some of its own financing sources, to comply with the payments in cash, think tank Torino Capital considers.
On Thursday, April 6, the oil company issued a statement notifying investors that it would be paying capital and amortization for USD 2.1 billion on the 5.25 % PDVSA 2017 bond as scheduled on April 12 in full.
According to the financial analysts, such notice eased most concerns about the probability of a PDVSA default with this payment, shifting attention to the period between October and November, when the nation must pay an additional USD 3.5 billion within a 35-day term.
The experts explained that the imports from China could be “a key source of financing.” They estimate that Venezuela has available around USD 7 billion in unspent resources from past Chinese loans and Chinese credit lines allowing it to pay for imports carried out within the framework of joint cooperation agreements.