Argentina, Venezuela Plan New Debt Issue

Argentina and Venezuela are planning a new debt issue this year, along similar lines to the so-called “bono sur” launched by the sovereigns last year. According to a report by news agency Efe, a Venezuelan government source said that both nations would issue $500 million in an offering aimed at the domestic market in Venezuela. Meanwhile, Venezuela’s president, Hugo Chávez, has said that his government will continue to buy Argentine dollar debt this year to add to the $3.3 billion already purchased, consolidating its role as Argentina’s largest financier.