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Petrocaribe debt sold to Goldman Sachs

Have no doubt, the Dominican Republic’s largest foreign debt, the bilateral debt owed to Venezuela and taken on by governments under enticing financial conditions through PetroCaribe, now has to be paid. Venezuela has sold the debt to Goldman Sachs. As reported in El Nuevo Herald, the Spanish affiliate of the Miami Herald newspaper, multinational investment banking firm Goldman Sachs has “generously” offered to buy (from Venezuela) US$4 billion worth of oil debt owed by the Dominican Republic for 41% of its value. “This is a tremendous bargain for Goldman,” said one source, as Venezuela is “liquidating the few assets it has, trying to find the cash flow, cash that it does not have.”

Source: DR1, Elnuevoherald

Category: DR News |

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Last updated December 2, 2016 at 1:59 PM
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