Bond Investors Go Unpaid as Venezuela Cites 'Operational' Issues
- Coupon payment of $185 million hasn’t reached investors
- Government says funds were made available in a timely manner
Venezuela Inches Closer to Dictatorship
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Venezuela, one of the world’s riskiest debtors, acknowledged it was having problems wiring bondholders a $185 million interest payment that was due last week and said it was committed to paying the debt.
Officials didn’t provide details about what was going on, posting on Twitter that money for the payment had been sent but that “operational changes” were holding things up. Banks have come under increased scrutiny in their dealings with Venezuela after the Trump administration imposed sanctions for what it calls a rolling back of democracy.