video Video
Venezuela gets debt breather, for now
Thursday, November 16, 2017 - 01:55
Venezuela wins easier debt terms from Russia and gets a vote of confidence from China, as the oil-rich country says it has starting making interest payments on bonds after a delay that had threatened to trigger a default. David Pollard reports.
▲ Hide Transcript
▶ View Transcript
Getting groceries in Venezuela is almost as hard as getting debt payments, the cynics might say. Though China, apparently, isn't among them. (SOUNDBITE) (Mandarin) CHINA'S FOREIGN MINISTRY SPOKESMAN GENG SHUANG, SAYING: "We believe that Venezuela's government and people have the ability to properly handle their debt issue. We hope all parties can resolve this issue via consultations." Another ally of Venezuela's socialist government stepped up with support on Wednesday. Russia - according to this announcement - agreeing to restructure three billion dollars in debt over 10 years. Venezuela is now in default, according to S&P, but President Nicolas Maduro's government may now have some room to manoeuvre ... As creditor demands mount .... SOUNDBITE (English) BILL BLAIN, CAPITAL MARKETS STRATEGIST, MINT PARTNERS, SAYING: "Most people in the market describe it as a nightmare ... What is fascinating is the fact that Russia which is owed some eight billion and China which is owed some 20 billion are both facing potentially enormous losses." Those losses might be offset by oil shipments from the OPEC member. Though late interest payments by its state oil company have also spooked markets. Venezuela says it's started paying 200 million dollars in overdue interest - on some of its 60 billion dollars of outstanding bonds. But its political crisis is ongoing, too - amid new sanctions from the US, and the EU. SOUNDBITE (English) SENIOR FX STRATEGIST, RABOBANK, JANE FOLEY, SAYING: "Certainly if you look at this from purely human level and you see the suffering of very ordinary innocent people there clearly sanctions are making their plight much worse." For Russia, the plight may be for one of its banks. Traders say exposure to Venezuelan debt could be one reason why shares in VTB - its second largest lender - have slid eight per cent ... To hit their lowest in nearly three years.
Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code
Venezuela gets debt breather, for now
Thursday, November 16, 2017 - 01:55
Top News »
Wed, Apr 25, 2018 - (2:35)
Wed, Apr 25, 2018 - (1:58)
Wed, Apr 25, 2018 - (1:51)
Wed, Apr 25, 2018 - (1:52)
Wed, Apr 25, 2018 - (1:27)
Wed, Apr 25, 2018 - (1:26)
Wed, Apr 25, 2018 - (2:16)
Wed, Apr 25, 2018 - (1:40)
Wed, Apr 25, 2018 - (1:12)
Tue, Apr 24, 2018 - (1:27)
Tue, Apr 24, 2018 - (1:07)
Tue, Apr 24, 2018 - (0:37)
Migrant Crisis »
Fri, Mar 16, 2018 - (0:50)
Fri, Dec 22, 2017 - (1:52)
Fri, Dec 22, 2017 - (1:07)
Fri, Dec 22, 2017 - (1:37)
Editors' Picks »
Wed, Apr 25, 2018 - (1:59)
Tue, Apr 24, 2018 - (2:00)
Tue, Apr 24, 2018 - (1:36)
Mon, Apr 23, 2018 - (1:56)
Fri, Apr 20, 2018 - (1:24)
Fri, Apr 20, 2018 - (2:04)
Thu, Apr 19, 2018 - (1:45)
Tue, Apr 17, 2018 - (2:44)
Tue, Apr 17, 2018 - (2:15)
Politics »
Wed, Apr 25, 2018 - (1:58)
Wed, Apr 25, 2018 - (1:52)
Wed, Apr 25, 2018 - (1:27)
Tue, Apr 24, 2018 - (1:27)
Tue, Apr 24, 2018 - (0:37)
Tue, Apr 24, 2018 - (1:43)
Tue, Apr 24, 2018 - (2:13)
Mon, Apr 23, 2018 - (1:40)
Fri, Apr 20, 2018 - (1:07)
Innovations »
Wed, Apr 25, 2018 - (2:04)
Wed, Apr 25, 2018 - (1:49)
Tue, Apr 24, 2018 - (1:54)
Tue, Apr 24, 2018 - (2:13)
Mon, Apr 23, 2018 - (1:55)
Sun, Apr 22, 2018 - (1:30)
Fri, Apr 20, 2018 - (1:50)
Thu, Apr 19, 2018 - (1:54)
Wed, Apr 18, 2018 - (1:03)
Wed, Apr 18, 2018 - (1:01)
Entertainment »
Wed, Apr 25, 2018 - (0:54)
Tue, Apr 24, 2018 - (1:17)
Tue, Apr 24, 2018 - (1:38)
Tue, Apr 24, 2018 - (1:51)
Tue, Apr 24, 2018 - (1:18)
Tue, Apr 24, 2018 - (1:25)
Tue, Apr 24, 2018 - (2:02)
Mon, Apr 23, 2018 - (1:28)
Mon, Apr 23, 2018 - (1:39)
Mon, Apr 23, 2018 - (2:11)
Mon, Apr 23, 2018 - (1:50)
Mon, Apr 23, 2018 - (0:39)
Rough Cuts »
Wed, Apr 25, 2018 - (0:46)
Wed, Apr 25, 2018 - (1:27)
Tue, Apr 24, 2018 - (1:27)
Tue, Apr 24, 2018 - (1:17)
Tue, Apr 24, 2018 - (0:51)
Tue, Apr 24, 2018 - (1:07)
Tue, Apr 24, 2018 - (0:37)
Tue, Apr 24, 2018 - (1:43)
Tue, Apr 24, 2018 - (2:13)
Tue, Apr 24, 2018 - (1:38)
Tue, Apr 24, 2018 - (1:51)
Tue, Apr 24, 2018 - (0:59)
Moving Pictures »
Tue, Apr 03, 2018 - (1:46)
Fri, Mar 02, 2018 - (2:13)
Thu, Feb 08, 2018 - (1:43)
Thu, Jan 04, 2018 - (1:01)
Fri, Dec 22, 2017 - (2:08)
Reuters Investigates »
Wed, Oct 11, 2017 - (10:18)
Wed, Aug 23, 2017 - (6:44)
Thu, Mar 16, 2017 - (2:26)
Tue, Nov 01, 2016 - (2:15)
Thu, Sep 29, 2016 - (2:19)
Fri, Aug 05, 2016 - (2:04)
Mon, Mar 28, 2016 - (3:02)
Thu, Mar 10, 2016 - (2:34)
Mon, Dec 07, 2015 - (2:58)
Mon, Dec 07, 2015 - (2:20)
Mon, Dec 07, 2015 - (0:35)
Mon, Dec 07, 2015 - (3:53)
Dateline Asia »
Tue, Dec 05, 2017 - (2:06)
Tue, Dec 05, 2017 - (2:11)
Fri, Dec 01, 2017 - (2:04)
Thu, Nov 30, 2017 - (2:10)
Thu, Nov 30, 2017 - (2:14)
Wed, Nov 29, 2017 - (2:11)
Tue, Nov 28, 2017 - (1:55)
Tue, Nov 28, 2017 - (2:21)
Mon, Nov 27, 2017 - (2:25)
Fri, Nov 24, 2017 - (2:16)
Fri, Nov 24, 2017 - (2:14)
Thu, Nov 23, 2017 - (2:18)