CARACAS Nov 5 Venezuela's PDVSA has paid $4.2
billion in bond maturities and interest in recent days, and will
shortly pay another $1 billion, the state oil company's
president told a local newspaper on Thursday.
PDVSA's $1.41 billion 2015 bond matured at
the end of October and a $2.05 billion amortization payment on
its 2017 bond came due this week.
"We've just paid capital plus interest of $4.2 billion, and
in the next few days we will cancel another $1 billion - between
this and next week - in interest on other bonds maturing in
different years, between 2022 and 2037," PDVSA President and Oil
Minister Eulogio Del Pino was quoted as saying by El Mundo.
On its website, the El Mundo daily also said PDVSA was
planning to renegotiate some of its 2016 and 2017 debt, but it
gave no more details. (tinyurl.com/novrxlr)
Venezuela's economy is struggling under a combination of low
oil prices and dysfunctional price and currency controls, with
shortages widespread and inflation the highest in the world.
PDVSA and the government must make some $10 billion in
principal and interest payments on foreign bonds next year,
similar to the total for 2015.
President Nicolas Maduro says, however, that Wall Street
concerns over possible default on foreign debt are ill-founded
and intended to destabilize Venezuela as part of an "economic
war" against socialism in the OPEC nation.
(Writing by Andrew Cawthorne; Editing by Ken Wills)