CARACAS, Nov 2: Venezuela said on Friday it will issue new debt over the next five months to reduce liquidity that has fueled Latin America’s highest inflation and pressured a rapidly depreciating currency.
On Monday, the Opec nation will launch a $1.5 billion bond issue evenly split between local and international paper, Finance Minister Rodrigo Cabezas said at a news conference outlining the government’s anti-inflation programme. The government will then sell $1.2bn in combinations of local and international Venezuelan bonds in weekly auctions of $100m to $150m each.—Reuters
