Goldman confirms buying Venezuela bonds after opposition cries foul

31 May 2017   Venezuela

Venezuela’s President Nicolas Maduro shows a copy of a country’s constitution during an official ceremony of a Campaign Command to support reforms to the constitution in Caracas, Venezuela May 29, 2017. REUTERS/Marco Bello Goldman Sachs Group Inc ( GS.N ) has confirmed it bought Venezuelan bonds after being excoriated by the country’s opposition for financing the embattled government of President Nicolas Maduro, who is facing sustained protests. The president of the opposition-led Congress accused the bank of financing “dictatorship” after the Wall Street Journal reported Goldman had bought $2.8 billion in bonds issued by state oil company PDVSA at a steep discount. “We bought these bonds, which were issued in 2014, on the secondary market from a broker and did not interact with the Venezuelan government,” Goldman wrote in a statement late on Monday. “We recognize that the situation is complex and evolving and that Venezuela is in crisis. […]

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