Venezuela Profits From Argentina

Venezuela’s finance minister, Nelson Merentes, explained that Venezuela has earned $100 million of profit from trading Argentina paper. Merentes outlined the gains made by Venezuela as part of a presentation to parliament concerning the proposed debt buyback plan. The minister said that the government planned to continue trading in the bonds, detailing that, to date, Venezuela had bought $2.5 billion of the paper and had made a profit of $100 million – $75 million earned by the government and $25 million by 28 local banks involved in the trades.