Chavez Looks to Raise Debt Ceiling

Venezuela’s government hassent congress a bill to raise the country’s debt ceiling of 37%, or VEB30bn ($6.9bn), according to local news reports citing remarks from government officials. “It has become customary for the government to raise the debt ceiling at this time of the year. Although in our view, most if not all of the additional debt will be issued locally, the possibility of USD denominated debt issuance cannot be ruled out,” Citi says in a report.